Bitcoin Options Open Interest Surpasses 58 Trillion Won 'All-Time High'... Strong Bullish Bets with Call Option Focus

As the price of Bitcoin (BTC) surpassed $110,000 today, setting a new all-time high, open interest in the options market also reached a record high, exceeding 58 trillion won based on Deribit.

According to CoinDesk, a cryptocurrency specialist media outlet, on the 22nd (local time), the open interest (OI) on the cryptocurrency options exchange Deribit was totaled at $42.5 billion (approximately 58 trillion won). This figure is analyzed to strongly reflect the expectation of further Bitcoin price increases in the options market.

Luuk Strijers, Chief Operating Officer (COO) of Deribit, stated in an interview, "Call options with expirations in May and June at $120,000 and $130,000 were the most actively traded," adding, "For the June 27 expiration, OI is concentrated at strike prices of $110,000, $120,000, and $300,000."

The media added, "This surge in OI is occurring simultaneously across derivatives, spot, and perpetual futures."

Deribit accounts for about 80% of global cryptocurrency options trading. Currently, Coinbase, a Nasdaq-listed company in the US, is pursuing an acquisition deal worth $2.9 billion.

Meanwhile, a call option refers to the right to buy a specific underlying asset at a predetermined price, and the buyer can profit by the amount of the difference if the market price is higher than the strike price at expiration.

Additionally, open interest refers to contracts in derivatives such as futures and options that have not yet been settled. An increase in open interest indicates that funds are flowing into the market.