How to view BTC facing resistance at $83,000? Glassnode: 81% of capital took profits via covered calls, market expects range-bound consolidation

📄Full Article· Automatically extracted by trafilaturaGemini 翻譯1671 words

After Bitcoin broke through the 82K mark, what’s the next move? The latest options analysis from Glassnode reveals the true underlying market sentiment. Data shows that not only is the demand for downside hedging rapidly fading, but long-term capital is also beginning to position itself for an upward trend. However, investors should buckle up, as a "short Gamma bomb" of up to $2 billion is lurking near $82,000, which could trigger intense volatility. Furthermore, whales have started selling calls near $83,000 to take profits, signaling that the market will likely be dominated by "strong consolidation" in the short term. (Previous coverage: CZ hopes the worst phase for Bitcoin is over, naming two catalysts: Trump’s market rescue + geopolitical tensions) (Background supplement: Latest JPMorgan research: Bitcoin surpasses gold as the top choice for "currency devaluation trade"! ETF inflows net positive for three consecutive months as of May) After weeks of suffocating consolidation and compression, Bitcoin (BTC) has finally shown explosive power, breaking through resistance and pushing strongly into the $82,000 to $83,000 range. The price breakout has reawakened market volatility. Renowned blockchain data analysis firm Glassnode released a series of in-depth charts on the options market via X, unveiling market maker positioning, volatility expectations, and the true market sentiment hidden beneath the surface price. Bitcoin broke through resistance and pushed into the 82K to 83K area, bringing volatility back into the market after weeks of compression. Here’s what BTC options data shows on positioning, volatility expectations, and sentiment beneath the surface. pic.twitter.com/hWhUOfgTQ9 — glassnode (@glassnode) May 8, 2026 The report first points out that the long-dormant implied volatility (IV) has finally awakened, rebounding strongly from its lowest point since October 2025. This rebound is primarily driven by the "front-end," with 1-week IV climbing 6 vols from its low, indicating a sharp increase in demand for short-term options. Interestingly, while implied volatility has risen rapidly, Bitcoin’s realized volatility (RV) has lagged behind (1-month RV is only about 34%). This has caused the "volatility risk premium (VRP)" to turn positive again. Simply put, the volatility currently priced into the options market is "higher" than the actual movement in the spot market, indicating that traders are preparing for larger moves ahead. Regarding market sentiment, investors' fear of a "downside" is dissipating. - Skew trends toward neutral: The 25D skew indicator, which measures the relative cost of calls versus puts, continues to compress across all tenors and is approaching neutral. This means investors are unwinding downside hedging positions (closing out or covering puts). - Long-term shift toward calls: Although short-term skew still carries a slight put premium, observing the "skew index" shows that long-term market expectations are clearly shifting toward "calls." This indicates that while downside protection at the bottom remains, demand for chasing upside is gradually building. However, short-term investors must buckle up. Glassnode warns that there is currently a cluster of up to $2 billion in short Gamma near the $82,000 strike price. In the options market mechanism, when market makers are in a Short Gamma state, they are forced to hedge by "following the trend" to maintain risk neutrality—meaning they buy spot when prices rise and sell spot when prices fall. This passive trend-following behavior is highly likely to significantly amplify Bitcoin's spot price volatility near the critical $82,000 level. Finally, capital flow indicators provide the answer for the short-term outlook. When Bitcoin hit a local high near $83,000, there was a significant shift in market capital flows. Data shows that in the past 24 hours, up to 81% of trading volume shifted to Call Selling, clearly indicating that traders are taking profits on the upside. However, Glassnode emphasizes that despite the profit-taking, the volume of "buying puts (shorting or hedging)" remains very low. This means the overall market positioning is inclined toward sideways consolidation to digest gains, rather than fearing a panic-driven sharp correction.

Data Status✓ Full text extractedRead Original (動區 BlockTempo)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-08

Wall Street strategist Tom Lee predicts: If Bitcoin holds above $76,000 in May, a "major bull market" will fully ignite.

Similarity 320%標的 BTC關鍵字比特幣同分類 zh

2026-04-29

21Shares CIO: Bitcoin "liquidity rivals Nvidia," eyes $100,000 by year-end! Traditional "altseason" may be a thing of the past

Similarity 290%標的 BTC關鍵字比特幣同分類 zh

2026-04-20

【Madman's Trend Analysis】Bitcoin $74,000 Battle: Early Miners Selling, Can Institutions Absorb the Pressure?

Similarity 290%標的 BTC關鍵字比特幣同分類 zh

2026-05-04