Murphy
Murphy|6月 24, 2026 04:25
In Figure 1, on the expiration date of 2026.6.26, the positive gamma between $59,000 and $62,000 means that market makers are engaging in countertrend hedging in this range (selling when it rises, buying when it falls), which suppresses volatility. Looking at Figure 2, the $60,000 put stands at a massive 4,620 BTC, making it the largest put wall below this level. From Figure 3, most of the purple line areas correspond to either a phase bottom or a temporary conclusion of a pullback. The only exception was in October 2025 (after the 1010 event). Overall, $60,000 remains a strong support level for now. Of course, Figures 1 and 2 reflect the forces tied to the single expiration date of June 26. After Friday's settlement, the structure will reset.
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