According to Greeks.live, the market sentiment is cautiously bearish with traders engaging in put buying strategies and hedging positions. The 83k resistance level is a focal point, with traders closely monitoring for potential market moves. Source: Greeks.live.

According to Greeks.live, excessive put buying can sometimes serve as a signal for a bottom in the market. This trend suggests that traders are heavily investing in put options, anticipating further declines. However, when the market is saturated with such bearish bets, it can indicate an oversold condition, potentially leading to a price reversal. Traders should monitor put-call ratios and open interest in options to evaluate market sentiment and identify possible reversal points.