Summary
- The scale of Bitcoin options open interest (OI) is reportedly on a declining trend.
- Glassnode reported that as open interest on both sides of positions in the options market decreases, market conviction is also weakening.
- Currently, Bitcoin is reportedly trading at $105,396, up 0.31%.
The scale of Bitcoin (BTC) options open interest (OI) is showing a declining trend.
On the 4th (local time), Glassnode announced via X (formerly Twitter), "The ratio of Bitcoin options put/call open interest has fallen from 0.64 to 0.56," adding, "This is due to the decline in open interest for call options from $28.7 billion to $24.7 billion, and put options from $18.4 billion to $13.9 billion." They further explained, "Although the options market still predicts a rise, the increase in open interest on both sides of the position indicates that market confidence in direction is decreasing."
As of 6:24 PM, based on the Binance USDT market, Bitcoin is trading at $105,396, up 0.31% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
