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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