According to @glassnode, crypto options flow over the last 24 hours skewed toward put buying, with puts accounting for close to 30% of activity, indicating demand for downside insurance as spot prices weaken. Source: @glassnode, Jan 9, 2026, glassno.de/4sxFIiJ This shift coincides with positioning ahead of key US macro data releases, signaling a more defensive stance among derivatives traders. Source: @glassnode, Jan 9, 2026, glassno.de/4sxFIiJ

According to @Andre_Dragosch, BTC is hovering near 87,000 while Deribit shows a massive positive gamma wall around 85,000, a level that can act as support and a price magnet in the near term, source: @Andre_Dragosch. He notes dealers are in long gamma, which typically leads to selling rallies and buying dips, reinforcing a magnetic pull lower toward the 85,000 area, source: @Andre_Dragosch. The immediate setup implies a short-term bearish bias with potential consolidation or a dip to retest 85,000 support, source: @Andre_Dragosch.

According to @glassnode, this week options flow leaned toward puts while overall volumes remained modest, indicating defensive positioning without strong directional conviction; source: Glassnode, Dec 19, 2025, https://twitter.com/glassnode/status/2002007236223082693. According to @glassnode, dealer positioning appears long gamma into year-end, which can mechanically suppress spot volatility as hedges are rebalanced around price changes; source: Glassnode, Dec 19, 2025, https://glassno.de/4s6UblD.