🚨💥 BTC Options Flow Update
• With
$BTC trading around $68K, price sits in the middle of the short-gamma corridor, with significant gamma exposure concentrated below current levels.
• Dealers positioned short gamma are forced into reactive hedging: buying strength and selling weakness, which amplifies volatility rather than smoothing it.
• Persistent put buying after the recent crash has left dealers structurally exposed. The latest rally has not fully offset this sensitivity.
• The result is a mechanically fragile market structure, where hedging flows accelerate moves in both directions thou