Glassnode: Bitcoin recently tested the $75,000 strike price; market direction remains unclear.

CoinFeed reported on May 30th that Glassnode published an analysis on the X platform stating that Bitcoin recently retested the $75,000 strike price. This area previously held nearly $8 billion in short Gamma positions, which pushed the BTC price down to around $72,500 before the current options expiration. With the completion of a large number of options expirations today, the market's Gamma structure has begun to reconstruct. Data shows that during the BTC decline, the implied volatility (IV) rose at one point, with the 1-period IV exceeding 35%, but then quickly fell back to around 32%. The longer-term IV also declined, indicating that the market still views this volatility as a "controllable adjustment." In terms of fund flows, the options buying and selling structure over the past 7 days has been almost perfectly balanced, with the buy and sell ratios for both call and put options approaching 25%, reflecting a lack of clear directional betting in the market after the recent decline.