BlockBeats News, May 26th, data shows that Bitcoin's implied volatility has dropped to 36%, hitting a nearly 8-month low, indicating that the market expects BTC to continue ranging in the short term. A decrease in volatility itself does not indicate price direction, but current derivatives market data shows that the short side may be overly crowded, and if BTC breaks through $82,000, it could trigger a large-scale short squeeze.

The CoinGlass Liquidation Heatmap shows a concentration of BTC shorts in the $78,000–$83,000 range. Meanwhile, BTC has failed to reclaim $90,000 for nearly 4 months, leading some shorts to build a stronger bearish outlook. Additionally, Glassnode data shows that the BTC 30-day option Delta Skew is currently holding at 14%, indicating a significant premium for put options compared to call options, reflecting that professional traders remain more concerned about downside risk for BTC.

The market has already priced in the expectation of BTC retracing to $72,000, but if BTC breaks $82,000 on significant volume, it could trigger a stronger short squeeze.