Analysis: Bitcoin has strong support near the $60,000 level ahead of this Friday’s options expiration, signaling a phased bottom.

Analyst Murphy noted that Bitcoin will hold strong support near $60,000 around the June 26 (this Friday) options expiration, making it unlikely to drop below this level easily. On the corresponding Gamma chart, the $59,000–$62,000 range shows significant positive Gamma; market makers’ hedging activities will suppress volatility, anchoring prices in this zone. Meanwhile, put option positions totaling 4,620 BTC have accumulated at the $60,000 strike price, forming a robust put wall that generates massive buying power to provide solid support when prices approach this level. Historically, similar option structures have mostly aligned with interim bottoms or the conclusion of pullbacks. Analyst Murphy considers $60,000 still a strong short-term support level, taking a cautiously optimistic stance on Bitcoin’s near-term performance.