Coinbase Report: Bitcoin Price Movement Influenced by Options Market Gamma Exposure
Bitcoin's price movement is being influenced by options market gamma exposure data, according to a report from Coinbase. The report, part of its BTC Practical Playbook, identifies $82,000 as a critical resistance level and $60,000 as key support for Bitcoin (BTC). Options market gamma exposure suggests that if the price drops towards $60,000, it could accelerate violently.
The report aggregates pivot points in market structure and volume into price bands, mapping where supply and demand have historically concentrated. The densest support cluster sits near $60,000, while the first dense resistance band hovers around $82,000. Coinbase then layered gamma exposure, a measure of how options dealers must hedge when BTC moves, on top of those levels.
A pronounced negative gamma band in the $60,000, $70,000 region means dealer hedging could amplify a selloff rather than cushion it. Positive gamma pockets at $85,000 and $90,000 suggest that hedging flows would work against momentum and increase the odds of price 'pinning' near those strikes.