Bitcoin (BTC) GEX Today — Gamma Flip & Key Levels
Daily snapshot · 7 Nov 2026, 08:00 UTC · all expirations · Deribit only →
- Spot
- 76,095
- Gamma flip
- 76,0580.1% below spot
- Regime
- Positive gamma
- Positive peak (P1)
- 81,000
- Negative peak (N1)
- 76,000
- Max pain
- 78,00013 Nov 2026 expiry
- Net GEX
- -42.1M
BTC is in positive gamma: the gamma flip at 76,058 is 0.1% below spot (76,095). Above the flip, dealers are long gamma and tend to dampen moves. The top positive gamma peak (P1) is at 81,000 (+6.4% from spot), where dealer hedging tends to stabilize price. The top negative gamma peak (N1) is at 76,000 (-0.1% from spot), a volatility trigger rather than support. The flip moved -0.6% since the previous snapshot (76,542 → 76,058).
BTC GEX levels — last 14 snapshots
Weekly archive →| Snapshot | Spot | Gamma flip | P1 | N1 | Regime |
|---|---|---|---|---|---|
| 7 Nov 07:57 UTC | 76,095 | 76,058 | 81,000 | 76,000 | Positive |
| 6 Nov 08:01 UTC | 75,615 | 76,542 | 80,000 | 74,000 | Negative |
| 5 Nov 08:06 UTC | 80,431 | 77,311 | 82,000 | 74,000 | Positive |
| 4 Nov 07:58 UTC | 78,120 | 77,283 | 78,000 | 74,000 | Positive |
| 3 Nov 08:06 UTC | 76,727 | 77,199 | 90,000 | 74,000 | Negative |
| 2 Nov 08:00 UTC | 78,086 | 77,480 | 78,000 | 74,000 | Positive |
| 1 Nov 07:55 UTC | 77,937 | 77,381 | 77,750 | 74,000 | Positive |
| 31 Oct 08:06 UTC | 77,315 | 77,237 | 82,000 | 74,000 | Positive |
| 30 Oct 08:09 UTC | 78,033 | 78,685 | 90,000 | 77,000 | Negative |
| 29 Oct 07:57 UTC | 79,890 | 80,024 | 90,000 | 79,000 | Negative |
| 28 Oct 08:08 UTC | 81,148 | 79,449 | 90,000 | 78,000 | Positive |
| 27 Oct 07:59 UTC | 79,806 | 79,656 | 90,000 | 78,000 | Positive |
| 26 Oct 08:03 UTC | 79,932 | 79,332 | 90,000 | 78,000 | Positive |
| 25 Oct 07:58 UTC | 80,673 | 80,106 | 90,000 | 78,000 | Positive |
See BTC gamma exposure live
- Updates every 15 minutes, not once a day
- Per-expiration breakdown, including 0DTE
- Full interactive GEX heatmap and history
- Monte Carlo price paths
About Bitcoin (BTC) options GEX
Bitcoin options trade around the clock on several crypto venues. Deribit lists bitcoin contracts that expire daily, weekly, monthly and quarterly at 08:00 UTC, and Bybit, OKX, Derive and Binance list their own. When an expiry carries heavy open interest, dealer hedging around that date can visibly shape how BTC trades.
This page aggregates all listed expirations from Deribit, Bybit, OKX, Derive and Binance into one gamma exposure profile and highlights the levels that matter most:
- the gamma flip, where dealer gamma changes sign — above it hedging tends to absorb moves, below it hedging tends to extend them;
- the largest positive peak (P1), a strike where long dealer gamma often slows price down;
- the largest negative peak (N1), a strike where short dealer gamma can accelerate a move through it.
Read the levels together with the regime. In positive gamma, BTC often mean-reverts between nearby peaks; in negative gamma, breakouts are more likely to follow through. The 30-day heatmap shows whether a level has held for weeks or just appeared, and the flip history shows how often price has crossed the flip recently.
The numbers here are a once-a-day snapshot. Intraday, the profile shifts as options are opened, closed and expire — especially around the Friday 08:00 UTC expiry.
FAQ
What is BTC GEX?
BTC GEX, or gamma exposure, estimates how much option dealers must buy or sell bitcoin to stay hedged as the price moves. It is computed from open interest across all listed bitcoin option strikes and expirations.
What does the bitcoin gamma flip mean?
The gamma flip is the price where dealers' net gamma changes sign. Above it dealers are usually long gamma and hedge against the move, which tends to dampen volatility; below it they are short gamma and their hedging can extend moves.
Which exchanges are included?
The levels on this page aggregate bitcoin options open interest from Deribit, Bybit, OKX, Derive and Binance, so a single exchange's positioning does not dominate the picture.
When are the BTC levels updated?
Once a day, from the 08:00 UTC snapshot, shortly after the daily Deribit expiry. The app updates the same levels every 15 minutes, with per-expiration and 0DTE views.
Levels are derived from end-of-period options open interest and are published once a day. Educational information, not investment advice.