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Bitcoin's options market has crossed $36 billion in open interest — the aggregate notional value of contracts that remain open and unsettled — as traders simultaneously build bullish positions and buy near-term downside protection, according to data flagged by Pluang.
The divergent positioning reveals a market that wants exposure to $BTC gains without fully committing to that view. What $36B in Open Interest Actually Means Open interest is a count of live bets, not trading volume.
When it expands, new money is entering the options market; when it contracts, positions are being closed or expiring.
Crossing $36 billion means the aggregate exposure outstanding in $BTC options has grown — more players have skin in the game, with contracts yet to be resolved.
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