Bitcoin options Greeks reverse: $92,000 GEX surges to $1.4 billion, key support may face tests

OnChainDetective · 2026-01-19T05:40:10+00:00

Changes have occurred in the Bitcoin options market, with the Long Gamma at $88,000 turning into Short Gamma, and the protection at $90,000 weakening. The options concentration at $92,000 has increased, potentially triggering greater volatility. The $87,000 to $92,000 range serves as a solid support, and a breakout could lead to a decline toward $72,000-$74,000.

OnChainDetective

2026-01-19 05:40:10

Abstract generation in progress

【CryptoWorld】Bitcoin options market shows clear changes. Compared to January 12th, the Long Gamma at the $88,000 level has reversed to Short Gamma, indicating a shift in the directional exposure of large options positions. The $90,000 threshold still maintains a Long Gamma characteristic, but the GEX value has dropped from $1.2 billion to $590 million, suggesting that the protective options at this range are weakening.

Meanwhile, the GEX near $92,000 has surged to $1.4 billion. The high concentration of options at this level will significantly amplify volatility—in other words, prices are likely to experience more intense fluctuations above this level.

URP data reveals an interesting detail: a large amount of open interest is accumulated between $87,000 and $92,000, which currently forms the strongest support zone. If this defensive line is broken, the next target for filling the gap would be around $72,000 to $74,000, with almost no effective support in between.

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GateUser-e87b21ee

· 3h ago

The position at 92,000 with 1.4 billion GEX accumulated so heavily, it feels like a tough wave is coming... --- Reversing short gamma at 88,000, this pace is a bit fast, are the bears gathering strength? --- Is the support band so solid? History tells me not to trust this setup... --- GEX dropped from 1.2 billion to 590 million, the protection has significantly decreased, which is a bit alarming. --- 1.4 billion at 92,000, the volatility will definitely explode then. Anyone using leverage will be in for a tough time. --- The accumulation of positions between 87-92 looks like institutions are setting up defenses; there’s something to it. --- If the support breaks, we’ll really be watching the gap; previous rebounds were all in vain. --- Long Gamma reverses into Short, what does this mean? Is shorting becoming active again? --- The key is how long this defensive line can hold. Once it breaks, it’s game over. --- The options at 92,000 are so concentrated that the price will definitely get stuck or surge explosively. Pick one.

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4am_degen

· 3h ago

92,000 GEX is exploding. This wave will either surge dramatically or plummet, with no middle ground.

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MeaninglessApe

· 3h ago

GEX at 92,000 has exploded! The volatility is probably going to skyrocket, feeling a bit anxious.

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0xSherlock

· 4h ago

The GEX at the 92,000 level surged to 1.4 billion, feeling like the market is about to get restless... If the 87-92 range can't hold, will it just crash straight down?

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