Record Bitcoin Options Interest Shows Bullish Sentiment Despite Cautious Hedging
-
Bitcoin options open interest reached a record $20.5 billion on Dec. 7, showing increased institutional involvement in crypto.
-
Deribit holds $2.05 billion open interest for options expiring Jan. 26, with lots of bets on $50K BTC price.
-
Buying a $54K Jan 26 call option now costs 0.02 BTC ($880), requiring a 25% BTC price increase to profit.
-
Put options show traders cautiously positioned for Jan expiry, with 97% of bets at $42K or lower.
-
While all eyes are on the $50K call options, dismissing the put options as worthless seems premature with 49 days until expiry.