$BTC BITCOIN IS FROZEN — AND IT’S NOT AN ACCIDENT
Everyone expected fireworks after December options expired.
Instead? Bitcoin went absolutely nowhere.
That wasn’t a failure of momentum — it was intentional positioning.
Here’s what actually happened: December gamma rolled off, but institutions didn’t exit. They rolled size straight into January and February. Same strikes. Same levels. Just more time. The pin didn’t vanish — it shifted forward.
That keeps price artificially stable, but stability has a cost. Time decay bleeds those positions daily, and eventually someone taps out. When they do, exits don’t happen slowly — they happen all at once.
Now layer in the macro reality:
• Liquidity isn’t expanding
• Rates stay restrictive
• Funding conditions are tightening
• Spot depth is thin and fragile
This is not how suppressed volatility breaks higher.
Options flows can delay the move — they never cancel it.
When the January structure cracks, pressure releases.
And pressure almost always chooses the path of least resistance.
Watch the pressure points. That’s where the real move starts.
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