Bitcoin Options Surge as Traders Eye 116K

Bitcoin Options Open Interest Reaches Record High

• Open interest for Bitcoin options hit an all-time high of approximately $65 billion.
• The surge was driven by options on BlackRock’s spot Bitcoin ETF.
• Bitcoin’s price climbed towards a record $112,000, with expectations to rise between $116,000 and $120,000.
• $20 billion in notional open interest was tied to BlackRock’s spot Bitcoin ETF alone.
• On Deribit exchange, call options were valued at $23 billion compared to $13.9 billion for put options.

The open interest in Bitcoin options recently reached around $65 billion, fueled significantly by BlackRock’s spot Bitcoin ETF. This reflects a widespread participation in the market as Bitcoin’s price approaches new highs.