Bitcoin Bulls Loading Calls While Spot Traders Sell: The $80,000 Divergence That Signals Institutional Positioning
StackSignal
Bitcoin sits motionless at $78,800 as the week closes, the gap to the $80,000 psychological gate just 1.5 percent. Yet beneath the surface the market has already fractured into two parallel universes. Bulls have begun loading long calls, aggressively bid up the 25-delta skew to negative territory at minus 2.05 percent, while spot traders on centralized exchanges continue to push bids lower. This is no random positioning. This is a narrative shift event that deserves forensic examination.