Glassnode: Bitcoin recently retested the $75k strike price, market direction remains uncertain

PANews May 30 News, Glassnode posted an analysis on X platform indicating that Bitcoin recently retested the $75k strike price, an area where nearly $8 billion in short Gamma positions had previously accumulated, and during this round of options expiration, the BTC price was temporarily pushed down to around $72.5k. As a large-scale options expiration was completed today, the market Gamma structure has begun to rebuild.

Data shows that during BTC's decline, the ATM implied volatility (IV) temporarily rose, with the 1-month IV surpassing 35%, but then quickly fell back to around 32%. Long-term IV also declined, indicating that the market still views this volatility as a "manageable adjustment." In terms of capital flow, the options trading structure over the past 7 days was nearly perfectly balanced, with buy and sell ratios for both call and put options close to 25%, reflecting a lack of clear directional bets after the recent decline.