BTC Options OI Climbs to Record $15 bn on Deribit
Bitcoin (BTC) options trading on Deribit has reached a record high of $15 billion, with the U.S. dollar value locked in active contracts reaching $37,200.
This figure has more than doubled since late September, surpassing the $14.36 billion peak during the bull-market days of October 2021.
Deribit, the world’s leading crypto options exchange, accounts for almost 87% of the global crypto options open interest of $25 billion.
Options are financial contracts that represent the right to buy or sell an asset, such as bitcoin, at an agreed-upon price for a specific period of time.
The BTC options market has recently surpassed the BTC futures market, indicating growing market sophistication. Bitcoin has been on a tear since early October, rising to $38,000 from $25,000. The rally is driven by optimism of an impending spot bitcoin ETF approval and macroeconomic developments.
(With inputs from Shikha Singh)
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