Options market data shows that if bitcoin breaks above $75,000, its rally may expand further
ChainCatcher news, Glassnode posted on social media stating that there is currently a large concentration of negative gamma positions near the $75,000 strike price in the bitcoin options market. Market makers seem to generally hold structurally bullish option short positions at this price level. When the spot price approaches this area, hedging operations may intensify, potentially amplifying upward price volatility.
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