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Bitcoin advances 2.6% in weak trading, spot gamma dynamics in focus
During the holiday period with reduced trading activity, Bitcoin increased by 2.6%, driven mainly by spot purchases and perpetual positions. The post-expiry dynamics reveal a scenario of elevated perpetual funding, indicating significant exposure to positive gamma risk if the price remains above levels close to US$ 94,000.
Spot-Gamma Dynamics and Market Protection
The protection structure against negative movements lost density as the market bought spot. At the same time, open interest experienced a notable decline, signaling weak conviction among participants. This combination highlights fragility in the technical foundations of the recent recovery, despite the positive percentage gain.
Perspectives for Upcoming Movements
As liquidity returns to the market during normal trading periods, analysts suggest that Bitcoin may establish a clearer directional trend. The current setup, with unbalanced spot gamma and elevated perpetual funding, remains sensitive to changes in overall conditions. Market observers recommend monitoring critical levels to identify signs of consolidation or reversal when trading flow normalizes further.
Current Price Context
With Bitcoin trading at approximately $92.06K, the market continues to process the implications of open positions and spot-gamma dynamics, laying the groundwork for potentially more structured movements as participation expands.