Bitcoin options OI swells to $38B as calls crowd at $100,000 strike price

A fresh wave of calls has turned Bitcoin’s options market into a coiled spring.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

As Bitcoin's options open interest sees a dramatic surge, traders are opting for convex positions, signaling a potential storm on the horizon. The $100,000 strike teems with call contracts, revealing a trend toward bullish bets despite Bitcoin's recent dip from its highs. With the options-to-futures open-interest ratio climbing to new heights, the market braces for amplified volatility. Could this setup nudge Bitcoin to the mythical $100,000 level, or is a downturn looming as it tests the waters? The implications of this setup are...