Bitcoin Options Skew Bullish as Call Dominance Signals Cautious Optimism

Bitcoin (BTC) options positioning tilted bullish on both a medium-term and short-term basis, with call options leading open interest and trading activity. Still, puts retained a meaningful share of flow, suggesting the market is leaning toward ‘cautious optimism’ rather than outright exuberance.

Data compiled by Coinglass at 12:40 a.m. ET on Aug. 3 showed total Bitcoin options ‘open interest’ (OI)—the notional value of outstanding contracts—at $24.651 billion, up 1.11% from $24.380 billion a day earlier. Total options volume over the same period stood at roughly $1.276 billion.

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