While Bitcoin’s price continues to steal headlines, a less visible but even more telling indicator of bullish sentiment is emerging: the options market. On Deribit — the leading global crypto options exchange — open interest in BTC options has reached an all-time high of $42.5 billion.

🧠 What Is Open Interest, and Why Does It Matter?

Open interest (OI) reflects the total value of all active, unsettled options contracts. A higher OI indicates that capital is flowing into the market and traders are actively preparing for significant price movements.

According to Luuk Strijers, Chief Commercial Officer at Deribit, this new record shows growing momentum among investors betting on Bitcoin’s continued rise through options trading.

💥 Top Strike Prices: $120K and $130K Call Options Dominate

🔹 In the past 24 hours, call options with strike prices of $120,000 and $130,000 (expiring in May and June) have seen the highest trading volumes.

🔹 The largest concentrations of open interest are currently on options expiring June 27, specifically at $110K, $120K, and even $300K strike levels.

👉 This reflects strong bullish expectations among market participants — and even some ultra-optimistic bets.

🌐 Deribit Controls 80% of the Global Crypto Options Market

Deribit remains the undisputed leader in crypto options trading, accounting for nearly 80% of global market share. The platform also offers perpetual options, futures, and spot trading.

Combined open interest across all of Deribit’s products (options + perpetual futures) has now exceeded $45 billion, highlighting the growing dominance of crypto derivatives in the broader ecosystem.

🔄 Coinbase Eyes Deribit Acquisition for $2.9 Billion

The strategic importance of Deribit hasn’t gone unnoticed. Coinbase is reportedly preparing to acquire the exchange for $2.9 billion. If the deal goes through, Coinbase would significantly expand its footprint in the derivatives market, which is quickly becoming as important as spot trading itself.

🧭 What Does It All Mean?

The Bitcoin options market is more than just a side show — it’s a real-time indicator of investor expectations and market sentiment. The record-high open interest, strong positioning around $120K strike prices, and institutional-level attention suggest that traders are gearing up for major moves — and using options to do it.




#bitcoin , #BTC , #options , #Openinterest , #CryptoNewss

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