Bitcoin (BTC) Options Hit Their Highest Level in History: What Does It Mean?

Deribit on its platform Bitcoin (BTC) announced that the nominal value of options open positions reached 15 billion dollars, breaking a record last Friday.

This figure is more than double the amount at the end of September and surpasses the previous peak of $14.36 billion during the October 2021 bull run.

During the previous peak, BTC was trading above $60,000. However, the current price of BTC stands at approximately $37,200. Interestingly, BTC options market open interest has recently surpassed the futures market.

Deribit Commercial Director Luuk Strijers expressed his excitement about this milestone in an email, saying, “We are excited to announce that we have broken a record in nominal open interest in BTC options, reaching $15 billion (an all-time high).”

He also emphasized that this development underscores the growing preference among investors for options as a strategic tool for positioning, hedging or taking advantage of the recent increase in implied volatility.

Options are financial contracts that give you the right to buy or sell an asset, in this case Bitcoin, at a predetermined price for a certain period of time. A call option gives the right to buy, and a put option gives the right to sell.

Option flow, both BTC and in Ethereum (ETH) It is very bullish with large size purchases.

*This is not investment advice.

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