Is $80K Next for Bitcoin Price? BTC Price at Risk as Skew & On-chain Data Flip Bearish

The Bitcoin price is under pressure 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 for Bitcoin price.

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.

Why This Matters? 

Negative skew suggests traders are bracing for volatility, with Bitcoin price risks skewed to the downside. This aligns with fears of a deeper correction toward $80,000.

2. Gamma Exposure: Market Markers Could Fuel a Drop to $80K

The Bitcoin price is vulnerable to a sharp decline as negative gamma exposure up to $90K strike price threatens to accelerate selling pressure. 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.

What this means for Bitcoin 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 Breaching $90K Could Lead to Steep Correction

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 Bitcoin price could crash lower and hunt these positions before “sustained move higher.”

Will Bitcoin 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.