Open interest in Bitcoin options has climbed steadily heading into the final quarter, with traders positioning for continued upside. Data from major derivatives exchanges shows call options outweighing puts across near-dated expiries, a pattern typically associated with bullish sentiment.
Implied volatility has ticked lower even as open interest grows, suggesting the market expects steadier price action rather than a sharp directional move. Some desks note this combination — rising open interest with falling volatility — has preceded sustained rallies in past cycles.
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