Analyst: $80,000 is the key resistance level for BTC, and a breakout could trigger amplified volatility
BlockBeats reports that on April 26, on-chain data analyst Murphy stated that by combining data from option Gamma exposure, open interest (OI) at strike prices, and at-the-money implied volatility (IV), $80,000 is currently the first key resistance level above for BTC. This level features high Call OI, positive Gamma, and low IV. During a price increase, dynamic hedging by market makers can easily lead to selling pressure, while lower IV amplifies the sensitivity to portfolio rebalancing from hedging.
Data shows that this price level corresponds to about 7,200 BTC in OI combined with positive Gamma, making $80,000 an important interim resistance level for BTC in May. However, the analysis indicates this is not the absolute top. If the price breaks through and approaches $82,000, the market may rapidly shift from being under pressure to entering a stage of heightened volatility, due to a larger scale of negative Gamma (about 4,644 BTC OI) in that region.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ-Moderna shares rise after raising annual revenue growth forecast
US November Michigan consumer sentiment exceeds expectations, rises to three-month high; independent voters' confidence increases, inflation expectations improve
The preliminary November Consumer Sentiment Index from the University of Michigan rose to 51 from 48 in October, surpassing the market's expectation of 48. This improvement was mainly concentrated among independent voters, whose consumer confidence reached a one-year high. About 57% of respondents proactively mentioned that high prices are affecting their standard of living, the highest percentage since May. Consumers expect prices to rise by 4.3% over the next year, the lowest level in three months.
Crypto prices
More
