Bitcoin Tests $75K Before Major Options Expiry, Pulls Back to $72.5K
Bitcoin briefly reached $75,000 ahead of a large options expiration before retreating to $72,500. Implied volatility spiked to 35% during the sell-off but quickly returned to 32%, as the decline was seen as a local correction.
According to Glassnode, the $75,000 zone had high gamma that initially held the price but later contributed to a pullback to $72,500.
Implied volatility briefly jumped to 35% during the sell-off but quickly reverted to 32%, indicating market participants viewed the drop as a temporary correction. At the same time, hedging demand eased—the 25-delta skew remains around 14%, and put and call order flows are evenly split at 25% each.
Risk premiums persist: realized volatility rose from 24.5% to 28%, while expected volatility stays at 35%.
Source: ForkLog