Bitcoin (BTC) price is facing heightened scrutiny as bearish signals emerge from derivatives markets and on-chain activity. With the BTC price hovering near critical levels, traders are asking: Could $80,000 be the next target? In this analysis, we dissect the latest Bitcoin price trends, including a bearish shift in options skew, negative gamma exposure, and weakening on-chain metrics—all pointing to growing downside risks for BTC.
Bitcoin Price at Risk: Bearish Skew & Gamma Exposure Signal Trouble
With the recent rug pull scams, the crypto market, including BTC’s value, looks primed for a crash. Options and futures data point more downsides ahead fo BTC.
1. Deribit Skew Turns Negative as Traders Hedge Against Downside
The BTC Deribit 25A Skew, a key metric tracking demand for puts vs. calls, has flipped bearish, reflecting heightened fear among traders. The data shows that the short-term skew has flipped to put premium, suggests aggressive put buying dominates. With 1-week skew plunging into negative territory, traders are hedging against a potential Bitcoin price drop, mirroring sentiment during past market tops.
The Long-term skew, Remains slightly negative, signaling a lack of long-term bullish conviction.
BTC Skew
Why This Matters?
Negative skew suggests traders are bracing for volatility, with BTC price risks skewed to the downside. This aligns with fears of a deeper correction toward $80,000.
2. Gamma Exposure Hints Market Makers Could Fuel Crash to $80K
The BTC Gamma Exposure chart reveals a critical vulnerability for Bitcoin price. The Negative Gamma Below $90K shows that market makers are ‘short gamma’ up to the $90,000 strike price. If BTC price falls, they’ll be forced to sell BTC to hedge positions, accelerating downward momentum.
According to the analyst Nazri, this creates a “negative feedback loop” where selling begets more selling. Many traders, including Nazri, call this scenario a “goblin town.”
Additionally, limited positive gamma for calls above $96K indicates weak bullish momentum, reducing chances of a near-term rebound.
BTC Gamma Exposure
What this means for BTC Price?
A break below $90,000 could trigger automated selling by market makers, opening the path to $85,000 and eventually $80,000.
3. On-chain Data Shows No Short Leverage
While options data paint a bearish picture, on-chain metrics exacerbate this outlook. Bitcoin liquidation map shows short liquidation clusters up to $86K. Nazri suggest that BTC price could crash lower and hunt these positions before “sustained move higher.”
Bitcoin liquidation map
Will BTC Price Hit $80K? Key Levels to Watch
A bearish breakdown with a daily candlestick close below the $90,000 psychological level could catalyze a swift drop to $85,000, which is the first target. Beyond this, if the sell orders continue to pile up, Bitcoin price forecast remainsbearish with a second target of $80,000,.
A bullish reversal scenario could evolve after a sweep of the liquidation clusers in the $85K region. If this is followed by a skew flip to positive with stabilization of gamma above $96K. In such a case, the resistance level at $100,000remains strong. A breakout above this key hurdle without a catalyst is unlikely.
Conclusion: Prepare for Volatillity
While the BTC price could rebound if sentiment shifts, the current data—bearish skew, negative gamma, and weak on-chain activity—suggests $80,000 is a realistic near-term target. US investors should prioritize risk management, hedging strategies, and close monitoring of derivatives markets.
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