Options data show $180M Gamma cluster at $74,000 strike as March 20 expiry positions for BTC move toward $75,000

ChainThink reports crypto analyst Murphy saying that as of March 16, Gamma Exposure expiring on March 20 concentrates about $180 million of Long Gamma around the $74,000 strike, a structure that typically leads market makers' hedging to dampen volatility and keep prices near that level. By the March 27 expiry, the BTC options profile shifts with Call open interest significantly above Put open interest, which Murphy interprets as large capital positioning for an advance toward $75,000. Murphy adds that after the March 20 expiry, the options setup is likely to make $75,000 the new focal area, transitioning from a volatility-suppressing regime to one that amplifies price swings while forming resistance as BTC approaches $80,000 and support on pullbacks into the $65,000–$67,000 range.