According to @Andre_Dragosch, there is significant negative gamma exposure in Bitcoin options between $95k and $102k, creating extra amplification to the upside in that zone, source: @Andre_Dragosch. According to @Andre_Dragosch, dealers short gamma will need to buy a lot of spot BTC to hedge, indicating forced spot demand that can accelerate upside near these levels, source: @Andre_Dragosch.

According to @glassnode, it introduced a taker-flow-based Gamma Exposure (GEX) metric that reveals how dealer hedging in crypto options can shape volatility regimes and influence price behavior around key levels (source: @glassnode). The firm states the flow-based GEX is designed to help market participants understand regime conditions and level sensitivity driven by options hedging activity (source: @glassnode).