Ethereum experienced a 1.7% flash crash as market sentiment turned cautious with a bearish tilt. Traders are closely monitoring the impact of recent Trump-Russia news, which is anticipated to be a 'sell the news' event. In light of uncertain market conditions, traders are maintaining cautious positions. Options traders are employing defensive short strategies, holding 115P short positions from the top as a hedge against further declines. They are focusing on theta collection strategies to generate income during market consolidation. Risk management emphasizes timely profit-taking to avoid liquidation.