The bearish narrative is dominating, but the options market is telling a different story. • BTC options open interest is concentrated in the $60K-$70K range, with positive Gamma focused between $62K-$81K • FG Nexus dumped another 3,375 ETH ($5.34M), with total positions now incurring over $86.8M in losses • BlackRock has been net selling ETH for 7 consecutive trading days since June 16 • Hyperliquid leads DeFi protocols with $12.3M in weekly revenue Fear is the fuel, Gamma is the fuse—patience waits for the spark.