Bitcoin (BTC) News: Options Open Interest Surges to $50B on Deribit
Bitcoin options open interest on Deribit hit a record $50.27 billion, driven by increased hedging against potential downside risks.Summary
Bitcoin options open interest on the Deribit exchange surged to a record $50.27 billion notional value, representing 453,820 active contracts, despite recent price declines. Deribit CEO Luuk Strijers noted this milestone underscores sustained market participation, with open interest more than doubling year-to-date. A significant feature of this record is the growing popularity of put options, particularly the $100,000 strike, which has nearly $2 billion in notional open interest, indicating active downside hedging by traders betting BTC could fall below that level. However, Strijers also observed signs of renewed optimism, with notable call activity building around the $120,000 strike, suggesting positioning for potential upside volatility.
(Source：CoinDesk)