Technical analysis by Tealstreet about Symbol BTC on 12/25/2025

Bitcoin has been stuck in the 85k–90k range, and it’s mostly options mechanics doing the work. Put gamma around ~85k has been absorbing downside, while call gamma near ~90k has been capping upside. That’s why dips stall and rips fade — it’s dealer hedging, not real conviction. This structure starts to loosen into the Dec 26 options expiry as a large chunk of gamma rolls off. When that happens, price becomes less reactive to hedging flows and more sensitive to actual buying and selling. Gamma unwinds on December 26. Direction after that comes down to where spot is trading as gamma pressure decays. For now, keep eyes on the 88–90k area. If price caps there again, it could present a short opportunity, with 82–78k as the downside zone. We’ll be reassessing post-expiry once the gamma map resets.