Bitcoin is hovering in the low $60,000s ahead of a massive $10.6 billion quarterly options expiry on June 26, with ETF outflows and negative gamma weighing on sentiment.
About $469 million in ETF outflows have added pressure in recent days. The negative gamma positioning means market makers may amplify price moves in either direction as expiry approaches.
The crypto market is watching closely. A break below $60K could trigger cascading liquidations, while a hold could set up a relief rally. Either way, volatility is coming.
