Bitcoin Nears $75,000 Strike as Gamma Squeeze Risk Builds Ahead of Month-End Options Expiry

Bitcoin is trading near the $75,000 strike where roughly 8,000 open interest contracts (BTC27MAR2675KC) are set to expire at month-end, and a move above this level could force market makers to hedge via near-term calls or spot purchases, potentially triggering a gamma squeeze, QCP Capital said. The firm noted $74,500 is acting as major resistance with heavy short liquidations clustered above, while rising geopolitical tensions tied to Iran have driven users toward on-chain cross-border liquidity, pushing USDC supply to a record $81.1 billion last week. Bitcoin spot ETFs have recorded five consecutive days of net inflows, with BlackRock's product logging three straight weeks of inflows totaling $1.75 billion, and Strategy has added to its BTC holdings. BTC and ETH are currently trading above $74,000 and $2,270 respectively, diverging from recent equity and gold performance.