TechFlow News: On May 29, Glassnode published an analysis on X stating that Bitcoin recently retested the $75,000 strike price. This zone previously accumulated nearly $8 billion in short Gamma positions, which temporarily depressed BTC’s price to around $72,500 ahead of this round’s options expiry. With today’s large-scale options expiry now complete, the market’s Gamma structure has begun rebuilding. Data shows that during BTC’s decline, at-the-money (ATM) implied volatility (IV) rose temporarily—1-week IV even breached 35%—but then quickly retreated to approximately 32%; longer-dated IV also declined, indicating the market views this volatility as a “manageable correction.” In terms of flows, the 7-day options trading structure was nearly perfectly balanced: call and put purchases and sales each accounted for roughly 25%, reflecting a lack of clear directional positioning following the recent price drop.
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