According to online reports, Adam, a macro researcher at Greeks.live, released a Chinese community briefing, which pointed out that groups generally hold a bullish attitude towards the market. Bitcoin exceeded US$120,000 and continued to rise to US$123,000. Traders believe that if it rises again this week, it will be a signal for short sellers to surrender collectively. Most traders focus on US$130,000 as the next important resistance level, but there are differences on chasing this position, and some believe that the risk is too high and dare not chase. The option synthetic delivery mechanism triggered in-depth discussions, focusing on explaining how to achieve real delivery through perpetual contracts after selling call options are real-valued, and the risk differences with settlement and delivery. The current arbitrage strategy has become a hot spot. Currently, there is an 8% premium on delivery contracts. By buying spot and shorting delivery contracts, risk-free annualized returns can be obtained. The market has a phenomenon of high leverage and strong push. When Ethereum rises by 1%, contract positions increase by 1 billion US dollars, the leverage level exceeds the peak of the bull market in 2021. The English community briefing pointed out that the group was bullish on ETH, and traders encountered different results on option positions-put options fell by 50%, while call options performed well. It is worth noting that despite the upward momentum, market participants remain skeptical and people continue to open new short positions.