Bitcoin Options Market Sees Significant Negative Gamma Positions

On March 16, Glassnode reported on social media that a substantial concentration of negative gamma positions is present near the $75,000 strike price in the Bitcoin options market. According to BlockBeats, market makers appear to generally hold structurally bearish option positions at this price level. As the spot price approaches this area, hedging activities could intensify, potentially amplifying upward price volatility.