Deribit, the leading crypto derivatives exchange, has reached a new record exceeding $40 billion in open interest for Bitcoin options.
Record Open Interest
According to The Block’s data, total open interest across all platforms temporarily exceeded $45 billion, with Deribit handling nearly 90% of that amount. This confirms its dominance in the crypto options trading market.
Options Contract Details
In this record session, approximately 139,000 Bitcoin contracts expired, representing about $15 billion in notional value. The put-call ratio settled at 0.75, indicating bullish sentiment among traders.
Market Dynamics
The max pain price, where options buyers lose the most, was pinned at $102,000. This level often acts as a gravitational pull for prices during expirations. In a similar vein, Ethereum also saw activity with around 939,000 ETH contracts expiring, equivalent to $2.29 billion in value. The put-call ratio was identified at 0.52, reflecting bullish sentiment for ETH.
These records in open interest highlight the growing interest and optimism among investors in crypto derivative instruments, reflecting the overall state of the crypto market.
