Bitcoin ETF

Bitcoin

Velo

Simply

Billion

<ul>
 <li>The open interest in options for the December expiration date is 65% calls and 35% puts.</li>
 <li>Bitcoin recently recovered lost ground and is now trading around the $43,000 mark.</li>
</ul>
Data shows that open interest in Bitcoin options on the <a href="https://thenewscrypto.com/bitcoin-futures-open-interest-on-cme-witnesses-massive-uptick/" target="_blank" rel="noopener noreferrer nofollow">CME</a> has hit a record high. Options open interest on bitcoin futures contracts at CME has surpassed $2 billion in the last 24 hours. Consistent with this conclusion, Velo Data reports a $2.1 billion peak in options open interest on CME bitcoin futures.
An abundance of buyers and sellers is indicated by a rise in open interest. Simply put, open interest is the sum of all unexecuted option contracts. A rise in open interest indicates more activity from knowledgeable traders, perhaps leading to the creation or addition of contracts.
<h3 class="wp-block-heading" id="h-bullish-sentiment-prevails">Bullish Sentiment Prevails</h3>
According to data from <a href="https://www.coinglass.com/" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>, the open interest in options for the December expiration date is 65% calls and 35% puts. It is considered a bullish sign when the number of calls is higher than the volume of puts.
<a href="https://thenewscrypto.com/bears-pulling-btc-down-bitcoin-struggles-crossing-43k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> recently recovered lost ground and is now trading around the $43,000 mark as investors are confident of a potential spot Bitcoin ETF approval next month.
The expiration date of the underlying bitcoin futures contract and the options on CME bitcoin futures coincide, which is the last Friday of the month. December’s trading volume for bitcoin futures on the CME had surpassed $41 billion.
Futures market participants are betting more and more on interest rate decreases, with some predicting a fall to the benchmark rate as soon as March and further cuts throughout the year, according to analysts at <a href="https://www.bitfinex.com/" target="_blank" rel="noopener noreferrer nofollow">Bitfinex</a>.
This prediction is in line with the results of the CME FedWatch tool, which indicates that there is a 66.7% chance that the US central bank will lower rates by 25 basis points in March 2024.
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Bitcoin Options Open Interest Hits Record $2 Billion on CME

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