Open interest for Bitcoin options has reached an all-time high of approximately $65 billion, primarily driven by increased activity related to options on BlackRock's spot Bitcoin ETF. This surge in interest comes as Bitcoin's price rallies toward new heights, recently hitting $111,808. According to Greg Magadini from Amberdata, this surge indicates a widespread participation in the market. Data indicates that traders expect Bitcoin to rise into a range between $116,000 and $120,000. The options market remains bullish, with more call options than put options, pointing towards expectations of continued price increases. The heightened interest in Bitcoin options echoes levels seen in late November, indicating strong market sentiment.
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