Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k

05/16/2024 23:15
Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k

Surge in Bitcoin's derivatives market open interest correlates with its price rebound, underscoring heightened investor anticipation.

Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k 11 mins ago · 3 min read

Surge in Bitcoin's derivatives market open interest correlates with its price rebound, underscoring heightened investor anticipation.

3 min read

Updated: May. 16, 2024 at 4:23 pm UTC

Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k

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

Bitcoin's recent recovery to the $66,000 level brought not just excitement but significant changes to the derivatives market, particularly affecting futures and options. As investors rush in, futures open interest soared by 9.6%, reaching $31.18 billion, while options surged even higher at a 12.4% increase. With call options dominating, the derivatives data hints at an overwhelmingly bullish sentiment. But what does this shift in market dynamics suggest about Bitcoin's future price trajectory? Discover why this bullish buzz could be just the beginning.

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