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Why Options Traders Are Suddenly Targeting $200K Bitcoin Strikes
Bitcoin is hovering around $117,826 on Wednesday as open interest in futures and options markets pushes into record territory, signaling intense institutional and speculative activity.
The Data Behind Bitcoin’s Quiet Power Shift on Derivatives Exchanges Open interest (OI) in bitcoin derivatives continues its climb as traders allocate capital toward both futures and options amid heightened market momentum. According to Coinglass data, total futures OI has reached a massive $84.83 billion across platforms, with CME topping the list at $18.49 billion, followed by Binance and Bybit.
Chart Source: Coinglass Bybit recorded the most bullish short-term activity with a 2.06% increase in OI over the last four hours, while BingX showed a staggering 3.87% rise over the same period. However, MEXC posted the largest drop, falling 3.14% in 24-hour OI change. Notably, Kucoin’s 3.4% daily increase in OI suggests renewed retail speculation on its venue. In the options market, Deribit remains the dominant player. The platform’s OI rankings show traders are heavily favoring call contracts, particularly those with strike prices of $120,000 to $140,000. The highest concentration of OI sits with the Dec. 26, 2025, $140,000 call at 10,706 BTC, followed closely by a $200,000 call with 8,586 BTC. Volume metrics from the past 24 hours show the July 25, 2025, $120,000 call leading with 4,446 BTC traded. Puts, while active, are outpaced by calls in both volume and OI. Currently, 60.76% of OI is skewed toward calls, totaling 257,518 BTC, compared with 166,341 BTC in puts.
Options traders are eyeing $200K bitcoin calls as a bold, leveraged play on future gains, betting on possible boosts like exchange-traded fund (ETF) inflows and skyrocketing demand. These high-flying calls deliver outsized rewards with minimal risk—But only if bitcoin takes off like a rocket. Chart Source: Coinglass. This options data paints a significant bullish tilt, supported by strike concentration just above current market levels. The July 25 expiry also sees intense clustering around the $115K to $120K range, where implied volatility (IV) ranges between 31% and 38%. With both futures and options showing expansion in capital commitment, bitcoin’s derivatives landscape continues to reflect a growing appetite for directional bets and structured positioning at higher valuations. Traders are clearly preparing for significant price movement in 2025’s final months.
Don't let your coins just sit there; they can earn you interest every day!
Binance recently launched a Soft Staking feature, which I find quite useful. Simply put, it's 'earning interest on your holdings'—you just leave your coins there, and they give you a little interest every day without doing anything. You can really earn just by letting them sit.
I have already activated this feature and tried it with BNB. I receive a small amount every day. Although it's not much, I was originally holding it long-term anyway, so it's just accumulating over time, completely earning interest passively.
📌 How to activate: Go to the Binance App homepage → [More] → [Wealth Management] → [Automatic Subscription] → [Activate Now], and you're good to go! After that, you don't need to worry about it; the earnings will be automatically credited to your account daily without any clicks.
I think there are several appealing aspects:
✅ No lock-up, you can withdraw anytime you need, trading doesn’t affect it ✅ Earnings go directly into your spot account, no extra operation needed ✅ Higher annualized returns than regular savings, and settled daily
You can earn interest just by holding coins, without hassle or mental effort, especially suitable for lazy people like me.
This feature was just launched recently, and I suggest everyone to activate it, especially if you plan to hold the coins long-term. Not activating it is just wasting the opportunity.
Activate it early to start earning interest sooner. #SoftStaking
Recently, everyone has been asking: When will altcoins take off? Don't worry, BitMEX founder Arthur Hayes provided his latest judgment at the Token2049 conference in Dubai.
1. When will the altcoin season come? The big man said it depends on Bitcoin's performance: 1️⃣ Bitcoin must first break through $120,000 2️⃣ Then surge to $150,000-$200,000 The earliest we might see this is this summer (July-September).
Why this judgment? Because the U.S. Treasury is secretly printing money! Although official data doesn't say so, the actual money supply is much greater than what is reported, and this money will eventually flow into risky assets like Bitcoin.
Here are the key points: - Ethereum must break through $4,200 - SOL must break through $300 Only then will funds flow from Bitcoin to altcoins.
But be careful! This time, it won't be like in 2021 when all coins rose: ❌ "Zombie coins" with no users or income may continue to stagnate. ✅ Funds will chase new hotspots, such as AI and new DeFi projects.
2. Which is better to buy, ETH or SOL? Hayes is more optimistic about ETH: ✔️ More locked funds ($128 billion vs. SOL's $9.3 billion) ✔️ More developers ✔️ More secure system Recently, after the ETH upgrade, the experience has improved, and the price has risen from over $2,600 to over $2,500 (although it's still half of the all-time high).
Although SOL has been popular recently due to meme coins and games: ⚠️ It lacks sufficient decentralization. ⚠️ System stability is questionable. ⚠️ These hotspots are easily copied by other chains.
3. What should ordinary people do? 1️⃣ Keep an eye on Bitcoin: Pay attention when it breaks $120,000. 2️⃣ ETH is suitable for long-term holding. 3️⃣ SOL can be considered when it pulls back to $140-$150. 4️⃣ Never touch those worthless "dinosaur coins."
Final reminder: Cryptocurrency is highly volatile; it is recommended: Don't go all in, set stop-losses, and diversify your investments.
Remember, the kind of market where everything rises like in 2021 is hard to replicate, so stay clear-headed!