Bitcoin options open interest rises to $74.1 billion, surpassing futures open interest for the first time

MarsBitNews · 2026-01-19T12:03:29+00:00

Open interest in Bitcoin options has risen to $74.1 billion, surpassing the $65.22 billion in futures for the first time, indicating a shift from directional leverage to more structured risk management. Data shows that options contracts experience volatility after major expiration dates, consistent with a risk rebuilding pattern.

MarsBitNews

2026-01-19 12:03:29

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Mars Finance reports that the total open interest of Bitcoin options has increased to approximately $74.1 billion, surpassing the total open interest of Bitcoin futures, which is about $65.22 billion, for the first time. Analysts point out that when open interest in options exceeds that of futures, it usually indicates that the market is shifting from original directional leverage to more structured risk exposure, such as hedging, yield strategies, and volatility positions. Additionally, data from Checkonchain shows that the open interest of options sharply declined at the end of December last year and was rebuilt in early January, which aligns with the pattern of market risk rebuilding after major expiration dates. In comparison, the change in open interest of futures during the same period was more stable.

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