In April, the Bitcoin market saw a strong rally with prices increasing by over 14 percent. This first month in Q2 2026 saw the top cryptocurrency reach a peak local of $79,000, before sliding into its mini-consolidation. As prices remain range-bound, data from the Bitcoin Options market has highlighted traders’ expectations, which include a potential short squeeze ahead.
Buy Call Positioning Buildings for $80K to Create a Resistance Zone
Then, you can also find out more about the following: X post Glassnode’s analytics platform shared a valuable update about Bitcoin options in May, following an overall positive performance during April. Glassnode analyst reported this month that implied volatilty dropped notably, as short-term (1W volatility expectations declined by 16 pts and long-term (6M volatility expectations decreased by 8 pts. These data suggest that after the rally of April, traders do not expect to see explosive moves in the near future.
Bitcoin’s range is unchanged after the rally in April and its decline to just under 80K.
Bitcoin Options Data reveals what’s beneath the surface about market positioning, volatility expectations and sentiment. pic.twitter.com/iEIskzslZ4
— glassnode (@glassnode) May 1, 2026
Intriguingly, realized volatility has confirmed this idea, as it aligned itself with the implied volatility. Reduced realized volatility can prevent traders from heavily hedging, and thus reinforce an auto-repeating cycle of low volatility. Other developments include traders accumulating call (upside bets), indicating renewed confidence in the price to retest $80,000 after two rejections from April. Glassnode observed that while demand for sell bets had dropped in April, it exploded as prices reached the $80,000 area.
The traders seemed to be confident that this low level would return, and it is becoming a psychological resistance.
You can win up to $82,000
Glassnode shares another important metric on the chain, called Bitcoin Options Gamma Exposure. It measures dealer hedging around strike prices.
In line with the data shared, a concentration of negative gamma valued at $2.5 billion at the $82,000 region suggests that market makers are likely to hedge in a way that reinforces price moves—selling into declines and buying into rallies.
Therefore, if Bitcoin breaks out of its current range above $80,000, a surge in buying activity from traders hedging their risk could trigger a sharp price swing, potentially setting off a short squeeze. At press time, Bitcoin trades at $78,175, up 2.44% over the last 24 hours. The daily volume of Bitcoin trading is $32.96 Billion, an increase of 32.34% over the day before.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
