Greeks.Live data shows that $BTC is in negative gamma within the roughly $58,000–$72,000 range, with no positive gamma cushion below the current price. Researcher Adam says Bitcoin and Ethereum have both entered deep negative gamma.
Hedging in a negative-gamma environment means passively chasing the market: to stay directionally neutral, market makers have to sell as prices fall and buy as they rise. According to Adam, a small dip could snowball into large-scale liquidations in perpetual futures, and the order book will remain fragile until the price returns to the gamma flip level at around $73,000.
This doesn’t amount to new bearish news; it changes how deep a hole the same news can drive the price into. The direction still depends on other factors.
#比特币 #以太坊 #Options Market
Hedging in a negative-gamma environment means passively chasing the market: to stay directionally neutral, market makers have to sell as prices fall and buy as they rise. According to Adam, a small dip could snowball into large-scale liquidations in perpetual futures, and the order book will remain fragile until the price returns to the gamma flip level at around $73,000.
This doesn’t amount to new bearish news; it changes how deep a hole the same news can drive the price into. The direction still depends on other factors.
#比特币 #以太坊 #Options Market