Glassnode: Resistance around $72,000 for Bitcoin is accumulating, and if the rebound weakens, the downside risk is higher

Glassnode published an analysis of Bitcoin options Gamma exposure. Currently, BTC is in a narrow negative Gamma trading range around $65,000 to $70,000, where traders' hedging actions can easily amplify short-term price fluctuations.

Resistance is accumulating around $72,000, while support is relatively thin below. Once the rebound momentum weakens, the downside risk is high. Bitcoin Gamma Exposure (GEX) is a derivatives indicator primarily used to analyze how the hedging behavior of options market makers affects the short-term volatility of Bitcoin spot prices.