- Deribit’s notional open interest in Bitcoin and Ethereum options surges to $20.64 billion.
- The milestone reflects continued growth and heightened interest in options trading within the crypto market.
- In the next 24 hours, BTC and ETH options contracts worth $4.5 billion will expire.
The notional open interest (OI), representing the dollar value locked in active Bitcoin (BTC) and Ethereum (ETH) options contracts on the renowned derivative exchange Deribit, has surged to $20.64 billion.
Reportedly, this remarkable milestone closely echoes the Bitcoin peak in November 2021, when it traded over $66,000. Effectively, the current $20.64 billion in notional open interest signifies a substantial increase compared to November 2021, as Bitcoin trades 50.37% lower at around $34,000.
Deribit options open interest: Laevitas
This surge in open interest carries significant implications, as flows in the options market, driven by investors and market makers, could play a more influential role in determining the spot market price of Bitcoin.
Luuk Strijers, the Chief Commercial Officer at Deribit, expressed enthusiasm about the figure recorded on the platform. Strijers …
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