Analyst: $80k is the first effective resistance level for BTC right now. If it breaks above $82k or enters a volatility-amplification range

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ME News update, April 26 (UTC+8): Crypto analyst Murphy posted on X stating that by combining three sets of data (Options Gamma Exposure, Options Open Interest by Strike Price, Options ATM Implied Volatility), the impact on BTC from an options perspective is: $80k is the first effective resistance above the current BTC level. This spot simultaneously meets the conditions of high Call OI, positive Gamma, and low IV. When price pushes upward, dynamic hedging by market makers can easily generate sell pressure; and the lower the IV, the higher the marginal sensitivity of market makers’ hedging rebalancing. Therefore, the thickness of this wall (OI of 7,200 BTC + positive Gamma on the same order of magnitude) makes $80,000 a “tough nut to crack” for May. Once it breaks through and approaches $82,000, because there is a larger amount of negative Gamma here (OI of 4,644 BTC), the market may quickly switch from being suppressed to a “volatility-amplifying” mode. (Source: ChainCatcher)
BTC-2.48%
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