[Bybit Releases Latest Options Weekly Report: BTC Rejected 4 Times by 200-Day Moving Average, $77,000 Becomes Key Battleground] BlockBeats News, May 19 — Bybit released its latest options weekly report stating that BTC faced its fourth consecutive rejection at the 200-day moving average this week, while ETH and XAUT weakened simultaneously. Multiple macro pressures are compounding: U.S. April CPI rose year-on-year to 3.8% (a three-year high), the 10-year U.S. Treasury yield broke through the 4.5% warning line, and CME FedWatch shows the probability of a rate hike by the end of 2026 has risen above 50%. The market pricing logic has shifted from "when to cut rates" to "whether to hike rates." Meanwhile, the expiration of U.S. stock options triggered "bull chain unwinding," with hedge fund long positions in tech stocks at the 99th percentile over the past five years, highlighting systemic deleveraging risks. Currently, the direction remains unclear, DVOL is still at historical extremes, and macro systemic risks have yet to be released. Investors are advised to remain patient and wait for confirmation of the $77,000 support level's validity before making further moves.
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