10x Research: Áp lực gamma âm của BTC có thể giảm nhẹ vào cuối tháng, tâm lý thị trường có thể chuyển sang tích cực

The Huoxing Finance report, according to analysis by 10x Research, has shown that since mid-January, Bitcoin's total gamma exposure has remained negative, reaching -$3.2 billion at the $82,000 strike price. In a negative gamma environment, market makers are forced to trade in the direction of price movements—buying more aggressively as prices rise and selling more aggressively as prices fall, thereby amplifying price volatility. As options concentratedly expire on May 29 and June 26, the negative gamma suppression effect is expected to gradually dissipate, alleviating Bitcoin’s downward bias. Currently, market demand for call options is significantly higher than that for put options, and institutions anticipate a shift in market sentiment from bearish to bullish at that time.