đ Bitcoin Bulls Are Back, Options OI Hits $63B!
Bitcoinâs options market just hit a record $63 billion in open interest, and the message is clear traders are betting big on the next move up.
Most of the action is clustered between $120Kâ$140K strike prices, meaning market participants expect a breakout rather than a breakdown. Even though some puts are stacking up near $100K, bullish calls are dominating.
On Deribit, which handles 80% of global OI, traders are loading up on upside exposure ahead of Fridayâs $5.1B expiry. The max pain sits at $114K, but sentiment remains decisively bullish.
High open interest + rising call volume = conviction.
Itâs starting to look like traders are positioning for Bitcoinâs next leg to $120K and beyond.
