CryptoWorld News reports that, according to Bloomberg, options market data shows that as Bitcoin approaches $80,000, there is a concentrated accumulation of call options at that strike price on Deribit, forming a significant open interest position. Market makers need to sell Bitcoin as the price rises to hedge, and the related long gamma mechanism creates a constraint on upward movement at that level. Currently, approximately $1.5 billion in notional value of call options are concentrated with expiration dates in May and June, with about $160 million and $566 million expiring on May 1 and May 29, respectively. Meanwhile, a weak futures market, slowing spot demand, and some profit-taking behaviors are also causing Bitcoin to repeatedly face resistance around $80,000.