Circle introduces new upgrade to make USDC, EURC “more accessible”Circle introduces new upgrade to make USDC, EURC "more accessible"
Dollar overshoots set rates as speculation reigns highDollar overshoots set rates as speculation reigns high

Quick Take

The Bitcoin options market is witnessing a surge not seen before, indicative of growing investor confidence and potential market trends. The Options Open Interest, which signifies the total funds allocated in options contracts, marked a record high on Nov. 10 with a notional value of $18.05 billion, equivalent to 491,000 BTC. The lion’s share of this momentum can be attributed to Deribit, contributing approximately $14.5 billion, according to Coinglass.

Options Open Interest: (Source: Coinglass)
Options Open Interest: (Source: Coinglass)

Further, the options volume on Deribit, defined as the total volume transacted in options contracts within the last 24 hours, peaked at $2.62 billion, making it the second-highest recorded volume this year, according to Coinglass.

Options Volume: (Source: Coinglass)
Options Volume: (Source: Coinglass)

Notably, the total open interest of both call and put options by strike price for a specific contract scheduled for Nov. 24th highlights a ‘call wall’ at $40,000. This represents 5,528 Bitcoin in terms of call options, carrying a notional value of $203 million, according to Deribit. However, the landscape evolves as we approach the year’s end.

Options by strike price, Nov. 24: (Source: Deribit)
Options by strike price, Nov. 24: (Source: Deribit)

By Dec. 29th, the call options remain primarily at $40,000, but the notional value escalates to a staggering $400 million, doubling the previous figure.

Options by strike price: (Source: Deribit)
Options by strike price, Dec 29: (Source: Deribit)

The post Bitcoin options open interest soars to unprecedented $18 billion appeared first on CryptoSlate.
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