@Sakura please summarize this article, thanks uwu.
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TLDR 
The article discusses the ongoing price compression and volatility in the Bitcoin options market, where the “house” (market makers) consistently profit from expiring options at the max pain point.
Key Points 
- Bitcoin options market has seen consistent “max pain” outcomes, where price settles at the point that causes the most options to expire worthless.
- This has led to a compression in Bitcoin’s price range and volatility, creating opportunities for those who can front-run the expansion in volatility.
- Indicators like the PANDA Terminal chart may signal an upcoming breakout from the current range.
- The large notional value of options expiring in June could also trigger increased volatility.
In-depth Summary 
The article draws parallels between the author’s experience at an Atlantic City casino roulette table and the current dynamics in the Bitcoin options market. Just as the casino pit boss collected chips without empathy when the ball landed on the “double zero” spot, the Bitcoin options market has consistently seen price settle at the “max pain” point, causing the majority of options to expire worthless.
This has led to a compression in Bitcoin’s price range, with support and resistance levels tightening. The authors suggest that this compression in price and volatility creates opportunities for those who can successfully front-run the expansion in volatility, as the pricing of options tends to reflect recent past price action rather than future expectations.
Indicators like the PANDA Terminal chart are highlighted as potential leading signals for an upcoming breakout from the current range, which could happen as soon as the next CPI print or towards the end of Q2 when a large notional value of options is set to expire.
ELI5 
The article talks about how the Bitcoin options market has been behaving like a casino, where the “house” (market makers) always seems to win. The price of Bitcoin has been stuck in a tight range, and the options contracts that people buy and sell are mostly ending up worthless. But the author thinks this could be an opportunity for those who can predict when the price will finally break out of this range and become more volatile again.
Writer’s Main Point 
The main point of the article is that the current compression in Bitcoin’s price and volatility, driven by the consistent “max pain” outcomes in the options market, creates opportunities for those who can successfully front-run the expansion in volatility that is likely to occur in the near future.
