Bitfinex Blog/
Options Expiries To Trigger Potential BTC Volatility
Bitcoin is currently trading in a negative gamma regime below its gamma flip ($68-70k), which amplifies price volatility. A $10.6 billion quarterly options expiry on June 26 will reset market positioning, removing the $60,000 put wall and potentially triggering a breakout from the current $60,000-$68,266 range.
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The current negative gamma state means dealer hedging accelerates price moves rather than dampening them, and the removal of the options-based floor at $60,000 during expiry could lead to increased volatility or a downward cascade.