10x Research: Bitcoin Options Market Structure With $1.8B Negative Gamma Could Amplify Price Gains

According to 10x Research, the options market has formed a negative gamma strike of approximately $1.8 billion near Bitcoin's current price level, which could create conditions for price increases. The research firm stated on its X platform that if Bitcoin rises, options market participants may be forced to buy to hedge their positions, with mechanical buying potentially strengthening upward momentum.

This reversal contrasts with recent weeks, when mandatory hedging in the options market increased selling pressure as Bitcoin declined below $70,000, accelerating losses to $65,705. Current market conditions suggest the options dynamics could now work in the opposite direction to support recovery.