BTC Gamma Pins to 77000 Strike as Expiry Closes In

BTC's 2026-10-31 08:00 UTC expiry (~2h out) is showing an unusually concentrated gamma profile. Spot is $77,132.58, just 0.17% from the 77000 strike, which the pin-analytics flag as the active magnet - not max pain at 78500 (1.8% away) or gamma flip at 78916 (2.3% away).

Strike	Call OI	Put OI	GEX
72000 (put wall)	0	718.4	~0
77000 (active magnet)	204.8	640.9	0.4348
78500 (max pain)	104.2	158.3	0.0001
82500 (call wall)	741.1	0	~0

Over the trailing 24h, as spot drifted down from roughly $78,400, total GEX for this expiry rose from 0.17 to 0.58 while gamma flip compressed from 79,517 to 78,916 - dealer hedging has steadily concentrated around 77000 as decay accelerated into expiry. Chain-wide OI flow skews toward put buying (total put delta +1,443.9 vs call +401.6), yet the 77000 strike itself saw net call buying (+170.1 calls, -88.6 puts), tightening the pin further. The 82500 call wall (741.1 OI) and 72000 put wall (718.4 OI) remain over 6% away and structurally inert for the remaining window.