According to Bloomberg, options market data shows that as Bitcoin approaches $80,000, call options at this strike price have accumulated significantly on Deribit, forming notable open interest. During the hedging process, market makers need to sell Bitcoin as prices rise, and the related long gamma mechanism creates resistance to upward momentum at this level. Currently, approximately $1.5 billion in nominal value of call options are concentrated in May and June expirations, with about $160 million and $566 million expiring on May 1 and May 29, respectively. Meanwhile, weakness in the futures market, slowing spot demand, and some profit-taking activities have also caused Bitcoin to repeatedly face resistance near $80,000. https://(wublock123.com)/news/bitcoin-fails-to-break-80000-options-hedging-pressure-60313