Friday, February 23, 2024
BTC options trading volume has increased significantly in December, despite a minor price decline. The Bitcoin [BTC] options market is experiencing a surge in activity, with monthly trading volume reaching an all-time high across major crypto derivatives exchanges, according to data from The Block’s Data dashboard. The monthly options trading volume for BTC currently totals $38 billion, marking a 5% increase from November and an 89% increase year-to-date.
Deribit leads the way with a $28 billion trading volume, followed by OKX with $4.35 billion and Binance with $3.23 billion. The rise in BTC’s options trading volume suggests the entry of new traders into the market, with increased market activity and liquidity.
The current BTC price of $42,696 represents a 12% increase in the last month, reinforcing the current momentum and suggesting traders are betting in favor of a sustained price rally. Similar sentiments are observed in the coin’s futures market, as BTC futures open interest has rallied by 12% since the beginning of the month.
Despite a 3% price retraction in the last week, coin accumulation remains strong, with key momentum indicators showing strong buying pressure and a steady inflow of liquidity into the BTC market.

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