Bitcoin's negative gamma exposure, currently at -$3.2 billion at the $82,000 strike price, may ease by the end of May, according to 10x Research. This negative gamma environment has forced market makers to trade in the direction of price movements, increasing volatility. However, as options contracts near their expiration dates on May 29 and June 26, this pressure is expected to dissipate, potentially alleviating Bitcoin's downward bias. Demand for call options is currently outpacing that for put options, suggesting a possible shift in market sentiment from bearish to bullish. Institutions are anticipating this change, which could lead to a more positive outlook for Bitcoin in the coming weeks.