The price of options on Bitcoin (BTC) and Ethereum (ETH) on Deribit has reached an all-time high. CoinDesk analysts noted that cryptocurrency derivatives trading is currently at its peak. As of the morning of December 8, 2023, the total dollar value of open or unexercised option contracts for the two leading cryptocurrencies in the world (open interest) amounted to $23.6 billion.
Luuk Strijers, the Chief Commercial Officer of Deribit, emphasized that this is a historic high. Bitcoin options accounted for 67% of the total number of contracts, with the remaining percentages attributed to Ethereum. On Deribit, each contract represents 1 BTC or 1 ETH.
At the time of publishing this news, a significant portion of the open interest (OI) in BTC and ETH contracts was concentrated in call options. In the case of Bitcoins, the majority of OI is seen in calls with strike prices of $50,000, $40,000, and $45,000. In the case of Ethereum, call options with strike prices of $2,300, $2,400, $2,500, and $3,000 are the most popular, as noted by Strijers.
As of December 8, 2023, at 11:00 Moscow time, the price of the cryptocurrency Bitcoin (BTC) was $43,200, representing a 1.6% decrease in the last 24 hours. The market capitalization of this cryptocurrency amounted to $844.67 billion, with a daily trading volume reaching $28.11 billion. The price of Bitcoin has increased by over 160% during the current year. As for Ethereum (ETH), its price has risen by 3.63% in the last 24 hours, reaching $2,350.
