【Bitcoin Options Analysis | Nov. 7】
※ Based primarily on gamma exposure (GEX) data
⚠️ Markets are selling off sharply, including U.S. equities. ⚠️
Weekly options expire today, and hedging demand is now concentrated around $75,000–$76,000, well below yesterday’s range.
The $80,000 options wall remains in place.
The key gamma flip level for market makers is around $76,800, and BTC is currently trading below it. Below this level, price swings can get larger, and technical support and resistance may be less reliable.
Implied volatility (BVIV) is in the 43% range, elevated by recent standards. That suggests the market is pricing in larger price swings.
Aggregate GEX, which I use to gauge potential hedging flows, has also dropped sharply heading into the weekly expiry. I’m watching for a further rise in volatility.
For now, I’m watching whether BTC can stabilize between $75,000 and $78,000. A break below $75,000 could accelerate the move toward $72,000, though trading activity around $74,000 has started to pick up.
#BTC
※ Based primarily on gamma exposure (GEX) data
⚠️ Markets are selling off sharply, including U.S. equities. ⚠️
Weekly options expire today, and hedging demand is now concentrated around $75,000–$76,000, well below yesterday’s range.
The $80,000 options wall remains in place.
The key gamma flip level for market makers is around $76,800, and BTC is currently trading below it. Below this level, price swings can get larger, and technical support and resistance may be less reliable.
Implied volatility (BVIV) is in the 43% range, elevated by recent standards. That suggests the market is pricing in larger price swings.
Aggregate GEX, which I use to gauge potential hedging flows, has also dropped sharply heading into the weekly expiry. I’m watching for a further rise in volatility.
For now, I’m watching whether BTC can stabilize between $75,000 and $78,000. A break below $75,000 could accelerate the move toward $72,000, though trading activity around $74,000 has started to pick up.
#BTC
