Bitcoin (BTC) could see rapid price gains once it tops the $36,000 mark, the recent positioning of options market makers suggests. Options are derivative contracts, offering the purchaser the right but not the obligation to buy or sell the underlying asset at a preset price at a later date. The demand for higher strike price call options has recently increased, with bitcoin rallying nearly 27% in the past four weeks. That has left market makers with a significant net short gamma exposure above $36,000, according to data tracked by Amberdata and Galaxy Digital. Dealers or market makers are entities tasked with creating order book liquidity and are always on the opposite side of investors’ trades.
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