Analysts point out that Ethereum may rapidly rise to $4400 due to the negative Gamma state in the derivatives market. The negative Gamma accumulation by market makers in the $4000 to $4400 range could trigger a self-reinforcing positive feedback loop, further pushing the price up.

Bitcoin (BTC) has shown strong performance recently, rebounding nearly 10% in less than a week, successfully breaking through the previously regarded key resistance range of $106,000 to $108,000, even bypassing the $103,000 to $105,000 hurdle from May. This strong upward momentum has led long positions to focus on the next important psychological barrier - $110,000. However, the road to new highs is not smooth sailing. Today (27th), $15 billion worth of Bitcoin options are set to expire, and a large number of open contracts are concentrated in the high gamma area, undoubtedly adding uncertainty to the market. Will this massive options expiration event bring volatility to the crypto assets market or set a bullish tone for Bitcoin's performance in the third quarter?

BlockBeats 消息,6 月 13 日,QCP 发布每日市场观察称,亚洲市场今早上面对的是地缘政治升级与数字市场动荡交织而成的冲击波。 Israel's Iran Nuclear Rebellion (据称导 to the death of Islan Revolution 卫队Referring to the official Hou Zhaoyin Kramy) quickly fell to the throne, 引发世界市场嘺again 动荡. 随着德黑兰誓言报复、而华盛顿则试图与事件保持距离,避险资产大幅上涨,油价与金价双双飙升。 标浦 500 指数期货跌破具有心理意义的 6000 点大关,而加密货币市场同样受到波及。 Bitband fell 3%, and Ethereum fell even more, reaching 9%. 波动率飙升,特别是短端波动率,因为交易员急于在下周美联储议息会议前抢占 Gamma 曝险。 Risk

Gate News bot news, QCP discussed the conflict between Israel and Iran in its latest market analysis, stating that market and macro risks have hurt global sentiment. The Asian market woke up to the dual impact of geopolitical escalation and digital disruption. Reports indicate that Israel launched a preemptive airstrike on Iran's nuclear infrastructure, resulting in the death of Iranian Revolutionary Guard commander Hossein Salami, which affected risk assets and shook global markets. As Iran vows to retaliate while Washington tries to distance itself, safe-haven funds dominate, driving a significant rise in oil and gold prices. The S&P 500 index futures fell below the critical psychological level of 6000 points, and cryptocurrencies were also caught up in this. Bitcoin (BTC) fell about 3%, while Ethereum (ETH) saw a larger decline of about 9%. Volatility surged, especially at the front end, as traders sought gamma exposure ahead of next week's Federal Open Market Committee (FOMC) decision. A decisive risk reversal occurred, with the volatility of BTC front-end put options currently exceeding that of equivalent call options by 5 times. This clearly indicates an increased demand for downside protection. Meanwhile, driven by concerns over the ongoing conflict between Israel and Iran, WTI crude oil prices soared by 11% during intraday trading. Given Iran's central role in global oil production, any escalation could choke off critical oil supply channels. This has heightened inflation concerns and tested the Federal Reserve's interest rate decision.

PANews reported on June 11 that Matrixport stated that the Ether funding rate has risen to 13.7%, reaching a new high since February of this year, which is typically interpreted by the market as Favourable Information and may attract more funds into the Ethereum ETF. However, what is more noteworthy is that the open interest in futures contracts is approaching the historical high point of December 2024, indicating that the main driving force behind this round of price pump comes from leveraged futures traders rather than Spot buyers. Compared to Bitcoin, which is dominated by spot demand, Ethereum's trend has diverged. The recent surge in call option buying, combined with the gamma hedging effect, has led to a significant gap risk for Ethereum. Markets are becoming more fragile and sensitive to changes in momentum. Analysts believe that the dominance of leveraged trading may lead to increased market volatility.

Golden Finance reports that Matrixport has released its daily icon analysis stating that the funding rate for Ethereum has surged to 13.7%—the highest level since February. This usually attracts inflows into Ethereum ETFs, which are often seen as a favourable signal. However, a more important signal is that the open interest in futures contracts is approaching its peak in December 2024, indicating that leveraged futures traders, rather than spot buyers, are the main drivers of the current price movement. This stands in stark contrast to Bitcoin, where the spot demand remains the main driving force. Contributing to this situation is the surge in bullish option buying, which has introduced significant gap risk to ETH price movement due to the resulting gamma hedging. The market is becoming increasingly fragile and is extremely sensitive to further momentum changes.

According to ChainCatcher news, the decentralized AI computing network AINX announced the completion of a $2 million seed round of financing, led by Alpha Gamma. AINX is developed by Helioq Labs, a research-driven protocol team dedicated to building censorship-resistant, user-sovereign infrastructure for Web3. AINX's upcoming roadmap includes the launch of NodeX 100, the introduction of a multi-chain computing rental market, and the release of customizable AI agents and multimodal content generation tools. In the future, the team also plans to achieve cross-chain compatibility, release SDKs for integration, and build a Decentralization AI model marketplace.

The stock market is experiencing severe fluctuations due to insufficient liquidity and Bots driven by headline news. False tweets regarding Trump's tariff plans have propelled the market to Rebound, causing the stock market to rise again. Traders and market makers are struggling to cope with market fluctuations, but the lack of liquidity has made trading expensive. The S&P 500 index recently surged over 3% in one day, and the market remains in a state of turmoil. The founder of Spot Gamma pointed out that large orders can impact the market.

The current market is generally bearish, with expectations that BTC may fall to below $80,000, and some even believe that last year's fluctuation trend may reoccur. Traders pointed out that the 'M top' has already fallen, facing mid-term risks, and the net outflow of BTCETF has intensified the bearish sentiment. The Options market volatility is abnormal, indicating that the decline may be a one-time event. ETH has a strong gamma distribution at $2500, which has dampened the recent volatility expectations in the market.

On February 24th, PANews reported that Adam, a macro researcher at Greeks.live, released a Chinese community brief, revealing differences in opinions among ETH options traders regarding the $2800 level. This is mainly due to the high concentration of gamma at this level. Most people believe that the performance of US stock ETFs will determine the breakthrough direction, and recommend caution before the market opens. In addition, there is strong bearish sentiment towards SOL, believing that it is forming a large M-top pattern and is expected to test the $120 support level.

Panic dumping and liquidation in the Asian morning session caused BTC and ETH to fall to lows of $49,000 and $2,116, respectively, with Jump Trading and Paradigm VC's aggressive ETH dumping seemingly being the direct trigger. Market makers scrambled to cut shorts gamma, which may have exacerbated the trend. At the same time, macro sentiment deteriorated due to poor US unemployment data, and large-scale Close Position of various assets led to a sharp rise in volatility. Global risk aversion is beginning to spread, but futures basis and funding rate are performing well.