The open interest in options for the December expiration date is 65% calls and 35% puts.
Bitcoin recently recovered lost ground and is now trading around the $43,000 mark.
Data shows that open interest in Bitcoin options on the CME has hit a record high. Options open interest on bitcoin futures contracts at CME has surpassed $2 billion in the last 24 hours. Consistent with this conclusion, Velo Data reports a $2.1 billion peak in options open interest on CME bitcoin futures.
An abundance of buyers and sellers is indicated by a rise in open interest. Simply put, open interest is the sum of all unexecuted option contracts. A rise in open interest indicates more activity from knowledgeable traders, perhaps leading to the creation or addition of contracts.
Bullish Sentiment Prevails
According to data from Coinglass, the open interest in options for the December expiration date is 65% calls and 35% puts. It is considered a bullish sign when the number of calls is higher than the volume of p
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