“For BTC, I think market makers’ hedging contributed to the price drop, but for ETH, it was a key factor that prevented the price from falling sharply,” Ardern said. “ETH had solid positive gamma near the strike price of around $1,600, and its total gamma is still positive, which means that when the price falls, market makers are buyers rather than sellers.”
Crypto Analysts Can’t Agree on Why the Ether (ETH) Price Outperformed Bitcoin’s (BTC) During Last Week’s Market Slide
