Bitcoin Nears $115K—Will the ’Invisible Hand’ of Markets Derail This Rally?

Bitcoin’s relentless surge toward record highs has traders eyeing $115K like moths to a flame. But whispers of an ’invisible hand’—whether institutional profit-taking or old-school market mechanics—could throw cold water on the party.

Wall Street’s usual suspects will still claim they saw it coming... right after they finish explaining why they didn’t buy in at $30K.

Dealer gamma is significantly positive, from $115K to $150K, thanks to investors’ interest in selling (overwriting) higher strike call options to generate additional yield on top of their spot holdings.

"There is lot of positive gamma in the market due to call overwriters. They will be more wary of this breakout, and if we can clear the pocket of gamma at $115K, this [rally] could really start to go," Anderson said.