BlockBeats News, March 16th, according to crypto analyst Murphy, looking at the March 20th expiry Gamma Exposure (GEX), there is around $180 million of Gamma exposure near $74,000, in a Long Gamma structure. In this environment, market makers’ hedging behavior usually suppresses volatility, making the price more likely to oscillate around that strike price, effectively creating resistance near $74,000. However, after March 20th, until the next major expiry on March 27th, a significant shift in the options structure has occurred. Call OI is significantly higher than Put, indicating that a large amount of funds in the market are betting that BTC will rise towards $75,000.
Murphy believes that after the March 20th expiry, BTC’s options structure will make $75,000 the new focus, transitioning from the previous ‘suppressed volatility’ to ‘amplified volatility,’ generating resistance as it approaches $80,000 and support in the $65,000-67,000 range.
