President Trump's aggressive stance towards Iran has pushed Bitcoin to $67,000. This drop, coupled with traders' defensive positions in put options, could trigger a negative gamma zone, leading to forced selling and potentially pushing prices below $60,000.

- Figure 1 -
- Figure 1 -

Liquidity remains thin post-March 27 expiry, possibly allowing for a sharp repricing if selling intensifies. If prices stay above $68,000, the risk diminishes.