Glassnode: Bitcoin $72k Resistance Accumulating, Downside Risk High if Bounce Weakens

BlockBeats News, April 7th, Glassnode published an analysis of Bitcoin options Gamma exposure. Currently, BTC is in a narrow negative Gamma trading range between $65,000 and $70,000, where traders' hedging behavior can amplify short-term price volatility. Resistance is building around $72,000, while support below is relatively thin. Once the rebound momentum weakens, the downside risk is high.

Bitcoin Gamma Exposure (GEX) is a derivative metric mainly used to analyze how options market makers' hedging behavior affects Bitcoin's spot price's short-term volatility.