This episode examines the mechanical constraints shaping Bitcoin price action through late December, focusing on how twenty seven billion dollars in options expiry on Deribit has enforced range bound behavior between eighty five thousand and ninety thousand dollars. The briefing details dealer gamma hedging mechanics that suppress realized volatility, analyzes institutional flow divergence showing nine hundred fifty two million in product outflows led by Ethereum and Bitcoin while XRP and Solana attracted fresh capital, and documents the separation between crypto asset performance and record equity market highs. Listeners receive technical context on how derivatives book structure interacts with spot liquidity and institutional positioning shifts.
