OPEX风险的标准普尔500指数：Gamma Cliff提前

S＆P 500（SPX）的2.49亿美元伽玛（SPX）可能会催化大量波动，可能会流向股票和加密市场，尤其是比特币（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).

标准普尔500年500年5月16日（星期五）面对关键的每月期权到期（OPEX），伽玛的曝光率为2.49亿美元（34.9％）滚滚。这可能会催化大规模波动，这可能会流向股票和加密货币市场，尤其是在比特币（BTC）中。

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

根据Menthor Q的数据，本月的审查是巨大的。

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.

根据区块链分析公司玻璃节点的计算，超过58％的标准普尔500期权量量集中在前月，表明风险很高。

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，由于2.49亿伽玛的曝光率到期，标准普尔500指数面临的风险要高。风险主要以交易流量稳定引起的定向移动形式。因此，伽玛的滚动通常会导致关键价格支持或阻力水平消失，从而迅速突破或逆转情况。

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.

考虑到这一点，这里有一些关键水平值得关注标准普尔500，以了解它如何影响比特币（BTC）价格和更广泛的加密市场。

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.

由于股票市场与加密货币之间的相关性，标准普尔500指数的风险情绪也可能影响BTC的价格转移。

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

BTC价格分析：比特币的制成或破坏时刻

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，比特币（BTC）价格在周五的期权到期之前反映了标准普尔500指数的脆弱性。 BTC今天的交易价格为102,601美元，倾向于看跌。这是投资者对BTC可以期望的两种情况。

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，比特币价格预测仍然是看跌，短期底层的形成为$ 99,000至$ 98,000，具体取决于BTC的反应如何达到10万美元。

Why This Matters for US Investors

为什么这对美国投资者很重要

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,

超过60％的标准普尔500期选择量来自美国机构，使周五到期的局部风险事件。因此，这是关注美国投资者的关键事件。 Spotgamma的推文大纲，

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..

大量的比特币ETF有效地将加密货币市场与股票联系起来。因此，股票抛售也可能迫使加密货币市场清算。

Trading Strategy for S&P 500 & BTC traders

标准普尔500和BTC交易者的交易策略

Conclusion

结论

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是跨分配混乱的潜在催化剂。如果标准普尔500指数在伽马压力下跌跌撞撞，则比特币的相关性可能会将其拖到$ 10万美元以下，或者更糟。贸易商应该为波动率做好准备，并关闭美国市场的线索。

Frequently Asked Questions (FAQs)

常见问题（常见问题解答）