The market opened lower on Monday; what does it signify? Let's take a look at the data for Bitcoin (BTC) to ease our minds.

From the VRP perspective, although the IV has decreased, the VRP remains positive. Looking at the historical data, the positive area still dominates. Therefore, sellers remain in control.

From the gamma ex analysis, Bitcoin has fully entered the negative gamma territory, with no positive gamma support or resistance nearby, indicating that it will fluctuate widely within the negative gamma range.

Thus, considering the probability that there will likely be no interest rate cuts in May, this May is expected to be a turbulent downward trend with fluctuations. Let's observe as we go; the data won’t lie. Sellers should first sell the weekly settlement options. As for buyers, they will have to rely on luck to guess the direction.