Bitcoin's $70,000 support options dynamic is shifting, raising rebound odds

ChainCatcher reports that 10x Research says the options-market setup that dragged Bitcoin below the $70,000 support area is changing and could start reinforcing upside momentum. After BTC broke $70,000, negative gamma effects amplified the selloff: market makers short gamma had to sell into the decline, turning a routine pullback into a liquidation-driven slide that took Bitcoin as low as $65,705. The dynamic hasn't disappeared, but the pressure point has shifted to a new level. The largest negative gamma exposure in the Bitcoin options market is now clustered near the current spot price, totaling about $1.8 billion. Any renewed volatility could again see dealer hedging intensify price swings. 10x Research adds that improving sentiment indicators, the prospect of a lower inflation risk premium tied to potential Iran-related agreements, and expectations that the next Federal Reserve chair could lean more dovish may help flip the options structure from a downside accelerant into a catalyst for a rebound.