Bitcoin price has looked strangely calm lately. BTC price keeps drifting back to the same area, no matter how many attempts push it higher or lower. That quiet tension has raised an important question. Why does Bitcoin keep returning to the $85K–$90K zone as if pulled by an invisible force?
According to market analysts NoLimit and David, the answer sits beneath the surface. The reason has little to do with emotion or headlines and everything to do with mechanics quietly shaping BTC price.
What you'll learn 👉
Bitcoin Price Is Stuck Because Of A Critical Options Level Near $88K
Bitcoin price is hovering around a key options flip level close to $88K. NoLimit explains that this level acts like a balance point. Above it, price behavior changes. Below it, price behavior changes again.
BTC price moving above $88K forces market makers into defensive action. Hedging requirements push them to sell spot Bitcoin into rallies. That selling pressure appears right where momentum usually builds. Every push higher loses strength and price slides back toward the middle.
🚨 BITCOIN IS BEING HELD IN PLACE, AND IT’S ABOUT TO BREAK
— NoLimit (@NoLimitGains) December 23, 2025
If you’re wondering why BTC keeps hovering around $85k-$90k no matter how many people try to push it…
I have the answer for you.
And it likely resolves within the next ~72 hours.
Here’s what’s actually going on:… pic.twitter.com/YhUIgL4vqy
BTC price slipping below $88K flips the situation. Selling pressure begins feeding on itself, volatility increases, and price falls faster. Dealers respond by buying spot Bitcoin to hedge downside exposure. That buying absorbs losses quickly and sends BTC price back upward.
This constant back and forth explains why Bitcoin keeps revisiting the same range. The movement feels natural on the surface, yet the structure behind it remains fragile.
BTC Price Keeps Rejecting $90K Because Of Heavy Call Option Pressure
The $90K level has turned into a stubborn ceiling for Bitcoin price. NoLimit points to a large cluster of call options sitting exactly at that level. Dealers are short those calls.
Every time BTC price approaches $90K, hedging activity kicks in. Dealers sell spot Bitcoin to protect their exposure. What looks like ordinary selling pressure is actually forced supply entering the market at a predictable point.
That pattern explains why Bitcoin price struggles to hold above $90K. The moment BTC price edges closer, selling appears almost automatically and sends it lower again.
BTC Price Finds Support Near $85K As Dealers Buy The Dip
The lower end of the range tells the opposite story. Around $85K, put option positioning dominates. David notes that this area holds heavy put exposure, creating a powerful support zone.
BTC price dipping toward $85K triggers dealer hedging in the opposite direction. Buying spot Bitcoin becomes necessary to balance risk. That buying pressure absorbs selloffs quickly and lifts price back toward the center of the range.
This dynamic creates a tight channel. Bitcoin price feels stable, yet the stability depends entirely on derivative positioning rather than organic demand.
Bitcoin Price Is Pinned By Dealer Hedging Not Market Sentiment
David describes the current environment as a yield extraction regime. Long-term holders sell calls for income. Dealers take the other side. The result creates negative gamma feedback that suppresses volatility.
BTC price rising leads to selling. BTC price falling leads to buying. Algorithms enforce this behavior with consistency, keeping Bitcoin locked between defined boundaries.
THE $300M GAMMA TRAP: How Dealer Algorithms Are Pinning Bitcoin at $87K Before the Snap
— David 🇺🇸 (@david_eng_mba) December 23, 2025
1. The Standoff: Trapped Between Two Walls
As of this morning, Bitcoin is trading at $87,378. The price action is not random; it is mechanically trapped in a tight range defined by massive… pic.twitter.com/Xmk47tNwNk
News events and sentiment shifts struggle to break through because the mechanical forces remain dominant. Bitcoin price is not reacting freely. It is being managed by necessity.
Timing adds urgency to this setup. A significant portion of current options exposure expires on December 26. David estimates that roughly $300M worth of gamma disappears on that date, representing more than half of the existing structure.
Once that expiry passes, the incentives that keep selling near $90K and buying near $85K vanish. The cage dissolves. Bitcoin price no longer needs to return to the same midpoint.
NoLimit highlights that this change has nothing to do with belief or mood. The expiration removes the forces entirely. Price behavior can finally breathe again.
Read Also: New XRPL Lending Model Raises Big Questions for XRP Holders
Bitcoin Price Sits Near A Key Flip Level Ahead Of Expiry
BTC price remains close to another important level near $88,925. David calls this the gamma flip point. Movement above it could shift dealer behavior from suppressing price to amplifying it.
Until expiry arrives, Bitcoin price may continue drifting within the same range. Afterward, the structure changes. Volatility no longer gets absorbed the same way. Price seeks a new equilibrium.
Bitcoin has spent days feeling unusually controlled. That calm hides a complex structure underneath. Once the calendar turns past December 26, that structure changes shape. Bitcoin price may still surprise when the quiet grip finally loosens. Watching how BTC price behaves after the expiry could offer clues about what kind of market comes next.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
