While the market's long-term bearish view on BTC remains unchanged, the latest gamma exposure distribution shows that market makers' hedging activities will continue to stabilise the price around $90k. The IV term structure also leans towards "stability" rather than "volatility." However, for ETH, although its IV term structure also leans towards stability, its GEX distribution suggests that market makers are struggling to smooth out volatility, and its price performance is expected to remain fragile.



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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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