Bitcoin Options Open Interest Hits New Peak of $42.5 Billion on Deribit as Traders Bet on Higher Prices
Bitcoin’s surge beyond $111,000 has propelled the options market on Deribit to fresh heights, with total open interest climbing to an all-time high of $42.5 billion, reflecting strong bullish bets from investors.
Deribit CEO Luuk Strijers shared with CoinDesk that the most substantial open interest is concentrated at the $110K, $120K, and even $300K strike prices expiring on June 27, highlighting widespread optimism about Bitcoin’s upward trajectory.
Options contracts grant holders the right to buy or sell Bitcoin at specific prices, allowing market participants to hedge risks or speculate on price swings. The dominance of call options at elevated strike prices suggests traders are positioning for significant gains.
“The past 24 hours saw the most activity in $120K and $130K calls for May and June expirations,” Strijers explained. “This volume spike, coupled with record open interest, points to a growing confidence in Bitcoin’s potential to climb higher.”
Deribit remains the leading crypto options platform, handling nearly 80% of global volume, with total open interest across crypto derivatives surpassing $45 billion.
In parallel, Coinbase’s plan to acquire Deribit in a $2.9 billion deal marks a major development in the crypto derivatives market landscape.
