Bitcoin fluctuated around $87,800 on Wednesday, failing to reach $90,000 earlier in the week. The market is focused on Thursday's Federal Reserve minutes for clues on interest rate cuts. QCP pointed out that open interest in options has dropped 50% after expiration, and market makers turning bearish on Gamma could amplify the rally. Market opinions are extremely divided: Standard Chartered and Cathie Wood predict reaching $500,000 by 2030, while analysts warn it could drop to $10,000.

During a light holiday trading session, Bitcoin prices recorded an increase of approximately 2.6%. However, professional trading firm QCP Capital remains cautious, believing that this rally lacks decisive trading volume support. The sharp 50% drop in open interest after options expiration indicates that a large amount of capital is still on the sidelines. More importantly, options market makers have shifted to a "negative Gamma" position above $94,000, which sets the stage for a potential "Gamma squeeze" and could lead to a sharp acceleration in price after breaking through this key level. However, this potential volatility driven by derivatives structures requires genuine spot buying and sustained capital inflows to confirm. Currently, the market faces a structural contradiction between outflows of spot ETF funds and a quiet increase in retail leverage.

Samson Mow, known for his $1M Bitcoin prediction, says mark December 26 (UTC+8). Bitcoin hovers at $87,000 due to options gamma hedging. Once December options expire, Samson Mow expects volatility to return, potentially pushing prices toward $110,000-$112,000 if $100,000 breaks.

By the end of 2025, the Bitcoin market is experiencing a "price deadlock" dominated by derivations. Against the backdrop of cooling inflation and improving macro conditions, Bitcoin's price has bizarrely oscillated between $85,000 and $90,000, with each breakout attempt suppressed by unseen forces. The core reason lies in an unprecedented "Gamma Flush": on December 26, Bitcoin options worth up to $23.7 billion are about to expire, accounting for nearly 50% of the entire market structure. The automated hedging operations carried out by market makers to maintain "Delta neutrality" are like a giant hand pinning the price in place. This ultimate year-end liquidation may become the key valve to release the long positions that have been suppressed for so long and open the market for 2026.

A solo miner successfully mined a block, earning 3.146 Bitcoin worth $266,000, despite having a less than 1 in 100,000 chance. This achievement, facilitated by a Bitaxe Gamma mining rig, highlights the rarity and potential rewards of individual Bitcoin mining.

AI demo tool developer Gamma has completed a $68 million Series B financing, with a valuation of $2.1 billion, and over 70 million users, with an annual revenue of approximately $100 million. The new funds will be used to expand enterprise services and international business, aiming to challenge the traditional demo tool market.

This week, $13 billion worth of Bitcoin options are set to expire, a figure that sounds shocking, but on the Deribit exchange, which clears about 90% of the open interest in Bitcoin options, this is just another Friday in the market's "quiet volatility cycle." Professional analysis suggests that the massive options expiration is not a price shock event, but rather a "volatility management event." Before expiration, the "Gamma Pinning" mechanism effectively suppressed spot price fluctuations through the hedging actions of traders, causing the market to exhibit unusual stability.

Gamma Prime hosted the Tokenized Capital Summit 2025 in Singapore, attracting over 2,500 attendees to discuss institutional adoption of tokenized private investments, featuring key industry speakers and highlighting the convergence of traditional finance with decentralized finance opportunities.

Gamma Prime hosted the Tokenized Capital Summit 2025 in Singapore, attracting over 2,500 attendees. The event united traditional capital allocators with decentralized finance opportunities, emphasizing the impact of tokenized assets on global markets.

The options market signals a potential bullish trend for Ethereum, targeting $4,400. High net gamma exposure indicates that market makers could amplify price movements, creating a buying momentum as ETH surpasses $4,000. This could lead to rapid gains towards $4,400.

A signal from the derivatives market indicates ether's price may surge to $4,400, driven by dealers' short gamma positions. As ether crosses $4,000, dealers may buy to hedge, potentially triggering a self-reinforcing rally.

Nick from Gamma highlights the distinctions between Bitcoin ordinals and traditional NFTs. He introduces Signals, a platform designed to enhance price discovery, simplifying the purchasing process for digital collectibles.

On the cryptocurrency options exchange Deribit, $300,000 worth of Bitcoin call options ranks second, attracting attention. Buyers may be betting on an extreme bull run, making leveraged statements, or engaging in hedging operations. The market's bullish sentiment is high, but it may also be overheating. A large amount of short-term options trading could lead to gamma squeeze. The market is optimistic about Bitcoin's price performance, but the price forecasts are more cautious. Overall, market sentiment is fluctuating greatly and requires careful handling.

In the latest analysis on December 24th, QCP Capital pointed out that the price of BTC retraced 14% from the historical high set last week to $92500, then rebounded to $95000. Capital outflows from Spot ETF for three consecutive days, market sentiment tends to be cautious, and year-end Liquidity gradually dries up. Previously, MicroStrategy increased its holdings of BTC by $561 million at an average price of $106,662, making it the seventh consecutive week of buying. However, the scale of this purchase is at a recent low, raising questions about its willingness to buy at high levels. Despite the price decline, the front-end volatility remains low, and there is no apparent demand for gamma hedging in the market. With the large-scale options expiration approaching on Friday, the volatility butterfly spread is maintained at +2.0.

Bitcoin's price could reach $1 million through the "Omega Candle," according to Samson Mow. The rise could be linked to a gamma squeeze from MicroStrategy's aggressive BTC buying. Breaking $100K could trigger new investor interest and higher targets.

Decentralized FinanceToken has performed well in the rising market of BTC, with CRV's increase exceeding 500%. Based on data from DefiLlama and CoinGecko, the article provides statistics on Decentralized Finance projects. Among the top 20 Tokens by revenue, most have been unlocked by more than half, and most Meme tools have not yet launched their coins. Among them, the income-to-circulating Market Cap ratio of Jito and Raydium exceeds three digits. Excluding projects that have not yet launched their coins, Gamma and WigoSwap have the highest cost-effectiveness. WigoSwap, which will be renamed Decentralized Financeve with the change from Fantom to Sonic, is worth following with its arrival. Among the projects that have not yet launched their coins, only Pump and OpenSea currently have a high probability of launching coins, but their cost-effectiveness is not high.

In the Token of the Decentralized Finance project, due to the characteristics such as the circulation of Token for many years, a small proportion of unlocked, and the sustainability of protocol income verified over time, outstanding Tokens have attracted market follow. This article compiles data from 60 projects, among which Gamma and WigoSwap have the highest cost-effectiveness and their characteristics are introduced. Among the projects that have not launched coins, the majority are Meme tools, and the probability of launching coins is small, so investment is not recommended.

To understand a gamma squeeze, it’s key to first grasp the basics of options trading. Options are financial tools that grant traders the right—but not the obligation—to buy (call options) or sell (put options) an asset at a set price before a specified date. In the world of bitcoin (BTC), options

BTCOptions product IBIT has attracted a nominal open interest trading volume of 20 billion US dollars, concentrated on call options, which may increase institutional participation and liquidity, and change market structure. Options can provide investors with hedging, speculation, and income arbitrage strategies. At the same time, tracking options data can provide insight into market expectations. The expected coverage of IBIT call options may suppress long-term implied volatility, but may trigger gamma squeeze during a bull market, predicting and causing price fluctuations.

"Gamma squeeze" is likely to happen again this week

Author: Li Kun Sober Most mosaic market option players believe that when the current IV is around 30 or below (as shown in the figure below: IV vs RV, source from: signalplus), the seller can no longer continue to "duck", and at this time long Gamma or long Vega should be on the scene ! But is this actually the case? I don't think so, let me tell you in detail. Comparison of mosaic market IV and RV in the past month 1. Whether the IV is low or high depends on what is the reference object? We usually do transactions, what is the value of the transaction? Yes, the transaction is price, that is, relative value, and the essence of investment or transaction is also the best cost-effective choice. At this moment, let's say that there was no risk 10 years ago (it was equivalent to risk-free and just exchanged, of course...

AI PPT will always exist, but unfortunately, Gamma may not really be.