10X Research: Bitcoin Retreats to Liquidity Trap Zone, Market May Reversal Summary

10X Research CEO Markus Thielen pointed out that after the 2024 US election, Bitcoin could quickly rise to $90,000, but then fall back to $87,000 due to a liquidity vacuum zone, facing negative options gamma at $75,000, which leads market makers to sell futures. The market situation may reverse at $60,000. Odaily Planet Daily reports that during the Consensus Hong Kong conference, Markus Thielen stated: “After the November 2024 election, Bitcoin rapidly surged from $70,000 to $90,000 within just 10 to 12 days. The trading activity during this process was very sparse, creating a huge gap—a liquidity vacuum zone. So when Bitcoin retreated to $87,000, it fell into this liquidity trap. What happened next was: at the $75,000 level, a large amount of negative options gamma appeared. This means market makers had to hedge, constantly selling futures. As the final wave of negative gamma was absorbed at $60,000, the market situation may reverse.”