The options market still leans towards bullish despite Bitcoin falling to 100,000 dollars.

The price of Bitcoin has fallen to 100,000 USD after America confirmed its involvement in the conflict between Israel and Iran. Data from derivative contracts shows that traders are actively betting on the next market volatility.

Open interest rates for Bitcoin options reach 51 billion USD amid geopolitical concerns

According to information from Coinglass, the open interest in Bitcoin options contracts is currently hovering around 51 billion USD, while the open interest for Ethereum is approximately 17 billion USD. This disparity reflects the growing attention on Bitcoin amidst increasing geopolitical tensions.

Open interest is an indicator that reflects the total value of outstanding options contracts and is often used to assess market participation and sentiment. At the Deribit exchange, call options still dominate open interest for both Bitcoin and Ethereum. About 59.73% of Bitcoin options contracts are call options, while this ratio for Ethereum is 67.39%, compared to 40.27% and 32.61% for put options, respectively.

Currently, the bears are dominating the ETH derivative market. However, the trading volume over the past 24 hours shows a more balanced picture. For Bitcoin, the call option volume reached 24,168 BTC, while the put option volume is slightly higher at 24,780 BTC.

The trading activity of Ethereum shows a trend leaning towards betting that the price will rise, with 53.06% of the volume dedicated to these contracts. The most traded Bitcoin contract is a bet that BTC will fall on June 27, with over 2,000 BTC related to this position, tied to the expectation that BTC will drop to 95,000 USD or lower at that time.

Another popular trade is betting that Bitcoin will rise to 105,000 USD on July 11. For Ethereum, the busiest options contracts are those predicting that the price could fall to 2,100 USD, 2,200 USD, or even 2,000 USD on June 27—indicating that some traders are preparing for the possibility of short-term price declines.

Although there is strong interest in protection against falls, especially for near-expiration contracts, the heavier tilt towards call options in open interest indicates that long-term optimism remains intact. Cryptocurrency traders seem to be preparing for more short-term volatility while still holding a view on the potential for price increases this year.

Mr. Teacher