Bitcoin Options Open Interest Drops 17% as $120,000 Call Dominance Persists

Bitcoin (BTC) options traders appear to be clearing out leverage at scale, but positioning continues to lean bullish, with the largest concentration of open bets still clustered around a $120,000 year-end call option.

Data compiled by CoinGlass showed total Bitcoin options ‘open interest’ (OI) at $31.81 billion as of 1:00 a.m. ET on Sunday, little changed from the prior reading of $31.76 billion. The steadier day-to-day figure, however, masked a sharp weekly drawdown: OI was down roughly 17.6% compared with May 29, signaling a meaningful reduction in outstanding derivatives exposure across…  Read more

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