$BTC at $63,189 with dealer gamma flip at $62,866. Dealers are long gamma above that level, short below. Above means mean-reversion: sell rips, buy dips. Below means trend acceleration: a break of $62,866 opens the trapdoor toward the $60,000 put wall. Upside capped at $70,000 call wall. 7d expected move is +/-4.59%, so $60,290 to $66,088. The range is tight and the structure says pin, not breakout. Vol skew at -6.31 points, puts bid. Market is paying for downside protection inside a regime that suppresses moves. That tension resolves this week.
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