Glassnode Says Bitcoin Options Traders Are Still Positioned For Trouble

Bitcoin’s drop back below $78,000 after a rejection near recent local range highs has left options traders positioned cautiously, according to new data shared by Glassnode. The firm said the options market continues to show compressed volatility expectations, elevated downside hedging demand, and a gamma structure that could amplify weakness if BTC moves toward the mid-$75,000 area. The move follows a failed attempt to hold near the upper end of the recent local range. While spot price action ha