By the end of December, most call options bets on Bitcoin on Deribit had reached $40,000
A spokesperson for the cryptocurrency options trading platform Deribit stated that earlier this week, the notional value of outstanding Bitcoin options contracts on the platform reached a historical record of approximately $14.9 billion. This number surpassed the $14.4 billion achieved before Bitcoin hit a high of nearly $69,000 in October 2021. Outstanding contracts refer to unsettled and open contracts.
Deribit data shows that as of the end of December, most bullish options bets on Bitcoin had reached a price of $40,000, and even $45,000. Given that traders selling bullish options are willing to accept bets from the other side, this indicates that $40,000 may become a key testing area for Bitcoin's rebound.
In addition, Coinglass data shows that the outstanding Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) reached $4 billion on Friday, while Binance was at $3.8 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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