Bitcoin Options Open Interest Reaches Record $42.5 Billion on Deribit
Bitcoin (BTC) reached a new all-time high of over $111K, leading to increased trading activity in the options market.
- Notional open interest (OI) in options hit a record $42.5 billion, according to Deribit's CEO.
- Traders are focusing on higher strike call options, particularly $120K and $130K for May and June expiries.
- The highest OI is at the $110K, $120K, and $300K June 27 strikes, indicating bullish sentiment.
- Deribit dominates the crypto options market, accounting for nearly 80% of global activity.
- Overall open interest across crypto options and perpetual futures has surpassed $45 billion.
- Coinbase plans to acquire Deribit for $2.9 billion to enhance its presence in the U.S. crypto options market.