By the end of December, most call options bets on Bitcoin on Deribit had reached $40,000

A spokesperson for cryptocurrency options exchange Deribit said that earlier this week, the notional value of open interest in Bitcoin options on the platform reached an all-time record of approximately $14.9 billion. This figure exceeds the $14.4 billion achieved in October 2021 before Bitcoin hit a high of nearly $69,000. Open positions refer to open positions that have not yet been settled. Deribit data shows that by the end of December, most call option bets on Bitcoin had reached $40,000 and even $45,000. Given that traders selling call options are willing to take bets from the other side, this suggests that $40,000 could become a key test area for Bitcoin’s rebound. Additionally, Coinglass data showed that open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) reached $4 billion on Friday, compared with $3.8 billion on Binance.