Weekly market structure Final
Bitcoin this week: 19–25 October 2026
BTC fell 2.4 % over the week, from 82,078 to 80,114, in a 7.2 % range: narrower than 69 % of all weeks since January 2023. Price traded below the put wall on 4 days; the deepest of those was 79,179 on Saturday.
The week on one line
Day by day
| Day | Close | Change | Range | What stood out |
|---|---|---|---|---|
| Mon 19 | 81,903 | −0.21 % | 1.8 % | Closed below the put wall (82,000); a 603 BTC bid wall at 82,382 was pulled in London |
| Tue 20 | 82,985 | +1.32 % | 2.8 % | Traded above the call wall (83,000); a 177 BTC bid wall at 82,200 was pulled in New York |
| Wed 21 | 84,050 | +1.28 % | 2.8 % | The week's high, 84,875, came here; a 618 BTC ask wall at 83,940 was eaten in New York |
| Thu 22 | 81,385 | −3.17 % | 4.3 % | Traded above the call wall (82,000); a 209 BTC bid wall at 82,000 was eaten in London |
| Fri 23 | 81,160 | −0.28 % | 2.0 % | Traded below the put wall (81,000) and closed back above it; traded above the call wall (82,000); a 198 BTC ask wall at 81,847 was pulled in New York |
| Sat 24 | 80,844 | −0.39 % | 2.5 % | The week's low, 79,179; closed below the put wall (81,000); traded above the call wall (81,000); a 531 BTC bid wall at 80,000 was pulled in New York |
| Sun 25 | 80,114 | −0.90 % | 1.5 % | Traded below the put wall (80,000) and closed back above it; traded above the call wall (80,000); a 606 BTC ask wall at 80,826 was eaten in Asia |
Sessions
New York moved the most, with an average range of 1.59 %, against 1.16 % in Asia and 0.94 % in London.
New York saw the most walls eaten (6), London the most pulled (6).
Liquidity walls
Across the three sessions, 15 walls were eaten, 15 were pulled before price reached them and 5 held. The largest: a 618 BTC ask wall at 83,940, eaten on Wednesday; a 606 BTC ask wall at 80,826, eaten on Sunday.
Options positioning
The call wall moved from 90,000 to 80,000. The put wall moved from 82,000 to 80,000. The estimated gamma flip moved from 80,924 on Monday to 79,560 on Sunday, so price ended the week above it, in the zone where dealer hedging is estimated to dampen moves. Estimated dealer gamma at the price ended at 42 million dollars per 1 %.
Next week: what the market is pricing
What option prices and history show as of 26 Oct 23:05 UTC. It is not a forecast.
| What | Level | Source |
|---|---|---|
| Expected move to Fri 30 Oct, 08:00 UTC | ±3.4 % (±2,709): 76,946 – 82,364 | ATM implied volatility 35.4 %; about two in three priced outcomes fall inside |
| Max pain, 30 Oct expiry | 79,000 | Open interest; put/call ratio 0.61 |
| Largest open interest, 30 Oct | Puts 70,000 (4,748 BTC), 75,000, 72,000 · calls 95,000, 100,000, 90,000 | Deribit, OKX and Bybit |
| Estimated levels | Put wall 80,000 · flip 79,560 · call wall 80,000 | GEX, standard dealer assumption |
What history shows
Since January 2023 the median weekly range has been 9.2 %, and the middle half of weeks moved between 6.4 % and 12.5 % from high to low. Past behaviour, not a prediction.
Scheduled
- Fri 30 Oct, 08:00 UTC: monthly BTC options expiry. Expiry page.
See next week live.Swiftedge Depth shows the BTC order book, every trade and the GEX levels in your browser, and Swiftedge Options the whole options chain. Free, no sign-up.
Open Swiftedge DepthNot financial advice. This report describes what happened in the data and what option prices imply. It is not a signal or a forecast, and past behaviour does not predict future results. Dealer levels are estimates.