OPEX風險的標準普爾500指數：Gamma Cliff提前

S＆P 500（SPX）的2.49億美元伽瑪（SPX）可能會催化大量波動，可能會流向股票和加密市場，尤其是比特幣（BTC）。

S&P 500 faces critical monthly options expiry (OPEX) on Friday, May 16, with $249 million in gamma exposure (34.9%) rolling off. This could catalyze massive volatility that could bleed into the stock and crypto market, especially with Bitcoin (BTC).

標準普爾500年500年5月16日（星期五）面對關鍵的每月期權到期（OPEX），伽瑪的曝光率為2.49億美元（34.9％）滾滾。這可能會催化大規模波動，這可能會流向股票和加密貨幣市場，尤其是在比特幣（BTC）中。

According to data from Menthor Q, this month’s exipiration is massive.

根據Menthor Q的數據，本月的審查是巨大的。

According to calculations by blockchain analytics firm Glass Node, over 58% of the S&P 500 options volume is concentrated in the front month, indicating a substantial level of risk.

根據區塊鏈分析公司玻璃節點的計算，超過58％的標準普爾500期權量量集中在前月，表明風險很高。

This month, the S&P 500 faces higher risk than usual due to the expiry of 249 million in gamma exposure. The risk is mainly in the form of directional moves caused by deal flow stabilization. Hence, a roll off in gamma often causes key price support or resistance levels to vanish, leading to rapid breakouts or reversal scenarios.

本月，由於2.49億伽瑪的曝光率到期，標準普爾500指數面臨的風險要高。風險主要以交易流量穩定引起的定向移動形式。因此，伽瑪的滾動通常會導致關鍵價格支持或阻力水平消失，從而迅速突破或逆轉情況。

With that in mind, here are some key levels to watch for the S&P 500 to understand how it affects Bitcoin (BTC) price and the broader crypto markets.

考慮到這一點，這裡有一些關鍵水平值得關注標準普爾500，以了解它如何影響比特幣（BTC）價格和更廣泛的加密市場。

Due to the correlation between the stock market and cryptos, a risk-off sentiment in the S&P 500 could also influence BTC price moves as well.

由於股票市場與加密貨幣之間的相關性，標準普爾500指數的風險情緒也可能影響BTC的價格轉移。

BTC Price Analysis: Bitcoin’s Make-or-Break Moment

BTC價格分析：比特幣的製成或破壞時刻

As noted above, Bitcoin (BTC) price mirrors the S&P 500’s fragility ahead of Friday’s options expiry. BTC trades today at $102,601 and is leaning bearish. Here are two scenarios that investors can expect for BTC.

如上所述，比特幣（BTC）價格在周五的期權到期之前反映了標準普爾500指數的脆弱性。 BTC今天的交易價格為102,601美元，傾向於看跌。這是投資者對BTC可以期望的兩種情況。

With that, the Bitcoin price prediction remains bearish with a short-term bottom formation at $99k to $98k, depending on how BTC reacts to the $100k level.

因此，比特幣價格預測仍然是看跌，短期底層的形成為$ 99,000至$ 98,000，具體取決於BTC的反應如何達到10萬美元。

Why This Matters for US Investors

為什麼這對美國投資者很重要

Over 60% of S&P 500 options volume stems from US institutions, making Friday’s expiry a localized risk event. Hence, it is a key event to watch for US investors. SpotGamma’s tweet outlines,

超過60％的標準普爾500期選擇量來自美國機構，使周五到期的局部風險事件。因此，這是關注美國投資者的關鍵事件。 Spotgamma的推文大綱，

The massive spot Bitcoin ETF inflows effectively tie the crypto market to equities. Hence, a stock selloff could force liquidations in the crypto market as well..

大量的比特幣ETF有效地將加密貨幣市場與股票聯繫起來。因此，股票拋售也可能迫使加密貨幣市場清算。

Trading Strategy for S&P 500 & BTC traders

標準普爾500和BTC交易者的交易策略

Conclusion

結論

Friday’s OPEX is a potential catalyst for cross-asset chaos. If the S&P 500 stumbles under gamma pressure, Bitcoin’s correlation could drag it below $100K—or worse. Traders should brace for volatility and watch the US market close for clues.

星期五的OPEX是跨分配混亂的潛在催化劑。如果標準普爾500指數在伽馬壓力下跌跌撞撞，則比特幣的相關性可能會將其拖到$ 10萬美元以下，或者更糟。貿易商應該為波動率做好準備，並關閉美國市場的線索。

Frequently Asked Questions (FAQs)

常見問題（常見問題解答）