$BTC’s $65,000 Pin Expires Tomorrow
Spot: $64,807
On July 31:
• 44% of gross gamma expires
• Current dealer-GEX proxy: −$116M per 1% move
• With no equivalent replacement, modeled GEX resets to −$40M
• Gamma flip falls from $62,849 to $61,949
That could remove much of the derivatives structure currently pinning
$BTC near $65,000.
If price breaks higher, the model’s +5% scenario implies approximately $541M of dealer buying.
Direction is not guaranteed.
But above $65,000, the structure can shift from pinning price to chasing price.
Next major call zone: $70,000
Spot: $64,807
On July 31:
• 44% of gross gamma expires
• Current dealer-GEX proxy: −$116M per 1% move
• With no equivalent replacement, modeled GEX resets to −$40M
• Gamma flip falls from $62,849 to $61,949
That could remove much of the derivatives structure currently pinning
$BTC near $65,000.
If price breaks higher, the model’s +5% scenario implies approximately $541M of dealer buying.
Direction is not guaranteed.
But above $65,000, the structure can shift from pinning price to chasing price.
Next major call zone: $70,000