Bitcoin and Ethereum Break Through Key Option GEX Zones; IV Remains Below 40%

According to Greeks.live analyst Adam, Bitcoin and Ethereum have broken through key option Gamma Exposure zones on May 28. BTC penetrated the concentrated GEX region with weakening resistance above, while ETH dipped below the $2,000 level where structural support had been concentrated.

Despite the price moves into sensitive areas, implied volatility (IV) has not risen significantly, remaining below 40% across all expiration dates with longer-dated IV continuing to decline. Three consecutive days of losses have failed to effectively push near-term IV higher, indicating the market has not priced in significant panic.