Aggressive buying has not lifted price: 276 BTC net over four hours, and price is down 0.31% in the last hour.
ORDER BOOK AT 15:11 UTC
83,000 · 111 BTC offered
81,875 · 124 BTC offered
81,719 · spot
80,550 · 193 BTC bid (largest in view)
80,200 · 183 BTC bid
Within 1% of mid, 53% of the resting size is on the bid side
SESSIONS (UTC)
Day: down 0.46% so far (low 81,638 at 03:40, high 82,900 at 11:25)
Asia: -0.07% (81,638 to 82,500)
London: -0.2% (81,794 to 82,900)
New York: -0.2% so far (81,643 to 82,460), session still open
WALL EVENTS (UTC)
No new wall events in the report since the last post. Latest listed: 09:01 UTC, bid wall at 82,150 eaten
FLOW
CVD (4h): +276 BTC
Last hour: price -0.31%, open interest -0.26% (long liquidation)
Funding: +3.4% annualised
Volume POC 82,288, value area 81,975 to 82,475
OPTIONS (GEX, MODEL ESTIMATE)
Dealers long gamma (assumption-based model): hedging tends to dampen moves
Gamma flip 80,299 (the model's hedging turn point is right there too, 80,250)
Call wall 90,000 (+$47.1M per 1% move), put wall 80,000 (+$39.7M per 1% move)
Expiring 08:00 UTC: call wall 82,500, put wall 80,000
STRUCTURE
Lower highs and lower lows (HH 82,900, LH 82,460, LL 81,643)
62% of the average daily range used
LEVELS TO WATCH
81,875 · biggest offer, 124 BTC, 156 USD above spot
80,550 · biggest bid, 193 BTC, 1,169 USD below spot
80,299 · gamma flip (model): below it, dealer hedging amplifies moves
Chart key: violet = offers, teal = bids, amber = options walls (dotted white = gamma flip), dotted grey = POC, arrows = wall events.
Descriptive only, not advice; walls can be pulled at any time, and the options read is a model estimate.
