Analysts say $80,000 is the first effective resistance level for BTC; a break above $82,000 could lead to increased volatility.

Crypto analyst Murphy, writing on the X platform, stated that considering three sets of data (Options Gamma Exposure, Options Open Interest by Strike Price, and Options ATM Implied Volatility), the impact on BTC from an options perspective is as follows: $80,000 is currently the first effective resistance level above BTC. This level simultaneously possesses the conditions of high Call OI, positive Gamma, and low IV. When the price pushes upwards, market makers' dynamic hedging can easily create selling pressure; and the lower the IV, the higher the marginal sensitivity of market makers' hedging adjustments. Therefore, the thickness of this wall (OI of 7,200 BTC + positive Gamma) makes $80,000 a "tough nut to crack" in May. Once it breaks through and approaches $82,000, due to the larger negative Gamma (OI of 4,644 BTC), the market may quickly switch from being suppressed to a "amplified volatility" mode.