Bitcoin options trading volume exceeds expectations

The trading volume of Bitcoin options through the final days of 2023 surpassed all previous records and increased by over $38 billion across the leading cryptocurrency derivatives exchanges. Along with derivatives trading activities on OKX and Binance, the volume of BTC options trading on Deribit reached $26.7 billion. Bitcoin is widely recognized as the most valuable digital asset in terms of market capitalization.

It is expected that almost $7.7 billion worth of choices connected with Bitcoin will witness closure on Deribit, a landmark where the secondary exchanges are concerned. A major amount of contracts that are held in abeyance on Deribit are in the form of calls. This allows the choice of gaining the authority to purchase Bitcoins at a designated cost.

In the words of the Chief Commercial Officer of Deribit, Luuk Strijers, there is a collective amount of more than $11 billion worth of Bitcoin and ether opportunities for open interest ahead of the closure. This will turn out to be Debirit’s biggest closure.

He added that the resultant factor would be beyond average hedging and trading functions. In his opinion, they will also witness customers rolling situations to 2024 closures and the possibility of further closures before and after the expiry. Following that, the focus will be on ETFs standing.

The maximum call closing amount will be $45,000. This means that seasoned traders have already surmised that the cost of digital assets will go beyond that by the end of December. Bitcoin has lowered its price, and the exchanges taking place were to the tune of $42,900. However, check our Bitcoin price prediction page to learn more insights about BTC performance.

The trading volume of Bitcoin options on the Chicago Mercantile Exchange has reached all-time highs after the participation of more major participants for more than a month. With only four days remaining, the CME Bitcoin chances in trading volume have reached $2.39 billion, according to Block’s data dashboard. Despite the presence of open interest in CME Bitcoin opportunities, a $2 billion increase has been observed.


One indicator shows that positive wagers made by derivatives traders are getting more difficult to sustain, despite widespread confidence. Selling appears to be outpacing buying in the Bitcoin futures market, according to a statement from CryptoQuant. In the context of cryptocurrencies, the derivative markets are experiencing astronomical funding rates.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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