Bitcoin Options Show Bulls Unbowed With Open Interest at Record

Even though Bitcoin has retreated from record territory, options show that traders remain extremely bullish with open interest reaching an all-time high.

The total number of outstanding Bitcoin options contracts reached $48.2 billion as of Friday, according to data compiled by Coinglass. The largest digital currency fell as much as 3.4% to $107,357 on Friday, a day after reaching a record $111,980.

Bitcoin options traders are betting on even higher prices, with far out-of-the-money call options expiring on June 27 at a strike price of $300,000 seeing significant open interest this week, open interest on the crypto options exchange Deribit ...