“Held in a zone, quiet and still,
When gamma fades, price moves at will.”
The next eight days are predicted to be key in determining the short-term price direction of Bitcoin (BTC), which is entering an important phase. Market analysts predict that a big $415 million Bitcoin gamma flush will soon occur, which might lead to increased volatility and a significant price shift.
Bitcoin is currently selling in a narrow range between $87,000 and $88,000 as of December 19, 2025. This is not a random sideways movement.
Large options dealers presently have substantial gamma exposure in the $85,000–$90,000 range, which is sometimes referred to as the “mud zone,” according to analysts.
These dealers employ delta-hedging techniques to control risk, which lessen price fluctuations and maintain Bitcoin’s stability within this range.
Data suggest that approximately $128 million in dealer gamma will expire on December 19, followed by another $287 million on December 26. All of this comes out to a gamma flush of $415 million in just eight days.
The hedging pressure that has been lowering the price of Bitcoin is anticipated to lessen after this exposure expires.
According to analyst David Eng, this might enable the market to “breathe again”. He speculates that Bitcoin might begin a new phase characterised by increased volatility and a distinct directional move following the December 26 expiration.
If momentum increases, some optimistic forecasts even suggest a possible objective close to $118,000.
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