Bitcoin hits $79.2k but faces resistance; options data hint at possible short squeeze near $82k.

Bitcoin surged to $79.2k but was rejected near a key resistance zone around $80k, with defensive trading seen in options data as investors sold upside calls and bought downside protection. Despite the rally, demand metrics remain weak, suggesting cautious investor sentiment and potential for a price drop toward $50k later this year. Analysts highlight a possible short squeeze near $82k, but advise selling now and buying at lower long-term price levels for better entry points.