BTC is entering a potentially explosive zone ⚠️
On Friday, 81.700 BTC options worth ~$6.44B will expire on Deribit — nearly 20% of Deribit’s open interest.
The setup is getting interesting: Put/Call = 0.83, with major call concentration at $75K and $80K. After BTC ripped from ~$62K to ~$80K in just one week, a huge amount of calls are now ITM, forcing market makers to actively gamma hedge.
And here’s where it gets spicy 👀
More than $500M in notional exposure sits within ±5% of spot. The closer BTC gets to $80K, the more aggressive hedging could become — potentially creating price pinning around $80K.
But if BTC decisively breaks away from that level, the same hedging flows could accelerate the move dramatically.
$80K isn’t just a psychological level anymore. It could be the liquidity magnet for BTC into Friday’s expiry.
So… pin at $80K or breakout? 🔥
On Friday, 81.700 BTC options worth ~$6.44B will expire on Deribit — nearly 20% of Deribit’s open interest.
The setup is getting interesting: Put/Call = 0.83, with major call concentration at $75K and $80K. After BTC ripped from ~$62K to ~$80K in just one week, a huge amount of calls are now ITM, forcing market makers to actively gamma hedge.
And here’s where it gets spicy 👀
More than $500M in notional exposure sits within ±5% of spot. The closer BTC gets to $80K, the more aggressive hedging could become — potentially creating price pinning around $80K.
But if BTC decisively breaks away from that level, the same hedging flows could accelerate the move dramatically.
$80K isn’t just a psychological level anymore. It could be the liquidity magnet for BTC into Friday’s expiry.
So… pin at $80K or breakout? 🔥
