[Analysis] "Bitcoin options market concentrates bets on $100,000 call options... reflecting bullish expectations"
Summary
- It reported that open interest for the Bitcoin $100,000 call option expiring in January 2026 on Deribit, the world's largest crypto options exchange, has increased significantly.
- The market said that if the spot price consistently exceeds the $94,000 level, the options market's bias toward the upside could strengthen further.
- Trading desks diagnosed that hedging demand toward the upside is expanding in the derivatives market, warning that short-term price volatility could increase.
In the Bitcoin (BTC) options market, positions betting on a price rise heading into early 2026 have been expanding rapidly. In particular, open interest is concentrated in $100,000 strike call options, strengthening expectations of a breakout to the upside.
On the 5th, crypto asset (cryptocurrency) specialist media CoinDesk reported that demand for the Bitcoin $100,000 call option expiring in January 2026 on Deribit, the world's largest crypto options exchange, has increased noticeably. Over the past 24 hours, the open interest in that call option increased by 420BTC, and it currently records the highest open interest among January expiries.
Market analysts also say that if the spot price consistently exceeds the $94,000 level, the options market's bias toward the upside could intensify. Some trading desks noted that Deribit's perpetual futures funding rate recently exceeded 30%, diagnosing that hedging demand toward the upside is expanding in the derivatives market.
The outlet said, "The concentration of call options in the options market shows that the bullish expectations that persisted throughout 2025 are still maintained into early 2026," adding, "In particular, the expansion of positions around $100,000 could act as a factor that increases short-term price volatility."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
