Bybit Options Weekly Review: May 6–May 11

Last week's Long Strangle strategy was directionally right but unlucky — BTC sat in the corridor between both breakevens all week. However, recently the market delivered a deeper signal: a rising wedge on the technical chart, persistently negative funding rates, and DVOL grinding down to 37–41 — a historically extreme low. Three indicators pointing at the same conclusion: the derivatives market is brewing something, but price has not yet confirmed what. Remember: BTC remains 36% below its all-time high. The market is still trading inside a bear market range. No strategy recommendation this week. We are watching.