According to Greeks.live, a discussion is underway about selling $70k put options to an entity named Zoran. This suggests potential bearish sentiment or hedging strategies in the market, as put options give the holder the right to sell an asset at a specified price, which in this case is $70k. Traders should monitor the options market for increased activity or changes in implied volatility that could indicate market sentiment shifts.

According to @GreeksLive, using put options can be an effective strategy to generate alpha or reduce losses. In a case study, if a trader had a directional view on Bitcoin (BTC) with a target of $44,000, longing a 44k put option could have lessened the losses compared to holding perpetual contracts.