Bitcoin Open Interest Recovers 13% As Options Flip Futures

Bitcoin futures open interest (OI) has increased by nearly 13% since the beginning of the year, suggesting analysts see signs of renewed risk appetite in the crypto market. This follows a three-month decline of 17.5% in OI, which coincided with a 36% price correction and indicated risk reduction. CryptoQuant analyst "Darkfost" noted that OI recovered from an eight-month low of $54 billion on January 1 to over $61 billion by January 19, suggesting a gradual return of bullish momentum, although the rebound is currently modest. Furthermore, Coin Bureau CEO Nic Puckrin observed that Bitcoin options OI ($75 billion) has surpassed futures OI ($61 billion), indicating that large capital is building positions through hedging rather than just directional leveraged bets. This shift suggests the market is becoming more structured, with fewer liquidation cascades and more stable price levels.

(Source：Cointelegraph)