Glassnode: Bitcoin Market Volatility Returns, Option Volatility and Market Sentiment Repair in Tandem

Odaily has learned that Glassnode analysis indicates Bitcoin has broken through key resistance, rising to the $82,000-$83,000 range, ending weeks of narrow consolidation, with market volatility returning. Options data shows short-term 1-week implied volatility has rebounded by approximately 6 points, while long-term volatility remains moderate, with short-term trading demand recovering rapidly.

In terms of sentiment and positioning, the 25-delta skew is converging toward neutral, with downside hedging demand weakening. Short-term positioning is bearish, while long-term has turned bullish, leading to a repricing of upside expectations. Structurally, implied volatility exceeds realized volatility, and the VRP has turned positive. A concentrated "short gamma" zone of approximately $2 billion near the $82,000 level could amplify volatility. In the past 24 hours, call option sell orders accounted for 81% of the total, indicating a market leaning toward range-bound consolidation.