An apparent increase in demand for safe-haven assets, rising interest in Bitcoin ETFs in the US, and anticipation of a more accommodating position from the Federal Reserve were the purported drivers of the cryptocurrency market’s recovery this year, which led to a significant gain in the value of Bitcoin. While the spot and futures markets for bitcoin were at the center of attention at first, options related to the cryptocurrency have recently come to the fore. By introducing a new facet to the market dynamics, these options give a convenient way to speculate on possible price swings. According to figures from Glassnode, the open interest in Bitcoin’s options has reached a new high point by exceeding $16 billion. This big increase in open interest happens at the same time that Bitcoin’s price successfully reclaimed the $37,000 mark on November 15. Options Open Interest On The Rise The rise in open interest for options shows that the market is more active and investors are interested in Bitcoin futures. The $16 billion figure shows how important options trading is bec ..
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