Bulls dominate as Bitcoin options open interest soars to $63B

Bitcoin options open interest (OI) has reached an all-time high of $63 billion, according to Coinglass, signaling strong engagement in crypto derivatives markets. Deribit, the largest crypto options exchange, also reported its OI hit $50 billion, with puts at $100,000 gaining traction. Despite some bearish positioning, the majority of the open interest is concentrated at significantly higher strike prices, including over $2 billion each at $120,000, $130,000, and $140,000. This concentration at high strike prices indicates that traders are predominantly betting on or hedging for substantial upside movement in Bitcoin's price. Furthermore, $5.1 billion in BTC options are set to expire on Deribit, with a put/call ratio of 1.03, suggesting balanced positioning, though Deribit noted traders are hedging downside rather than positioning for a major sell-off.

(Source：Cointelegraph)