The Gamma wall is down, volatility has also leaked, this script is familiar.

Glassnode on X analysis states that BTC retested the 75k level, accumulating nearly $8 billion in short Gamma, with options expiring and temporarily pushing prices down to 72.5k. After expiration, the Gamma structure was reconstructed. ATM IV briefly broke through 35% before falling back to 32%, and long-term IV also declined, indicating that volatility is within a controllable adjustment. Over the past 7 days, options buying and selling have been roughly balanced, each accounting for about 25%, lacking clear directional bets.