Bottlecaps, when used casually, can be used to distract or lure over wandering sligs. In Speedrunning, they are manipulated to be used as an extended platform. This is where the wording of a cap hop is used: When Abe manipulates his hitbox with the droppable bottle cap entity.

The best piece of knowledge to know for executing a cap hop -- which is mainly used in Scrabania and the Boardroom as well as once in Rupture Farms -- is momentum. Since sprint jumping in the game is faster than simply sprinting or even rolling, we know that momentum is definitely a valid variable in the movement mechanics of the game. You can watch this video to learn how to use momentum to guarantee a cap hop.

Simply jump a few meters before the actual jump, then once Abe is just at/over the edge of the platform, drop your cap and jump very soon after.

My cap drop button is R