Above the flip, aggregate dealer gamma is positive: hedging means selling into strength and buying into weakness, which absorbs moves. Below it the sign inverts and the same hedging pushes with the move.
So the flip is not a floor. It is the boundary between a market that damps itself and one that amplifies itself — a change in behaviour, not in price interest.
Why that distinction changes the trade
A support level implies buyers waiting. Nobody is waiting at the flip. What happens on a crossing is that the character of subsequent moves changes: the same news produces a larger move below than above.
Treating it as support invites buying it and being surprised when it does not hold. It was never holding anything — it was suppressing volatility, and once crossed it stops.
In crypto specifically
Two adjustments. The flip must be solved for rather than read off the ladder, and on a call-heavy book it frequently sits far from spot — which is a real answer meaning the regime is not close to changing, per a distant flip is still an answer.
And the effect is weaker than in an index, because the book is small against spot turnover — crypto gamma is smaller than it looks. Expect a change in character, not a regime that dictates price.
What actually confirms a crossing
Not the price touching a computed number. The behaviour changing: larger ranges, moves that extend rather than mean-revert, and a market that stops absorbing.
If price crosses and the tape looks the same, the flip was probably in the wrong place — a real possibility on a thin book where few strikes dominate the solve.