Bitcoin (BTC) On Verge of ‘Gamma Squeeze’ After Rapid Run Toward Record High

After a breakneck run toward a record high this week, soaring demand for options appears to have left Bitcoin teetering on the verge of another parabolic run or a violent plunge.

Bitcoin has jumped around 20% since last Friday. The seemingly endless demand for US exchange-traded funds that hold the token has traders raising bets that the record price of almost $69,000, last seen during the Covid pandemic, will soon be surpassed. Bitcoin was mostly little changed at about $62,000 on Friday.