Analysis: On-chain data, futures, and options triple signal resonance, BTC may rise to $85,000

Deep Tide TechFlow News: On May 07, according to CoinDesk, Bitcoin has risen from around $63,000 over the past three months to above $80,000, with several key indicators simultaneously pointing to a $85,000 target level. On-chain, BTC has broken through two major support levels: the “realized market mean” ($78,200) and the “short-term holder cost basis” ($79,100). Research firm Glassnode said the next resistance level is near the active realized price of $85,200. In the futures market, the funding rate has shifted from negative to neutral; the earlier large-scale short pressure has clearly eased, and the risk of a short squeeze has increased. In the options market, market makers hold about $2 billion in “short gamma” exposure near $82,000. As prices rise, they will be forced to keep hedging with buy orders, creating a positive feedback loop. However, analysts note that Bitcoin is still highly correlated with the US stock technology sector, and if the equities market turns toward risk aversion, upward momentum may be suppressed.