Bitcoin News
By James Thorp
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Calls Are Winning the Options Race. The options side is where things get more interesting. Calls dominate, making up 60.
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Max Pain Sits Well Below Spot Price. Here's the tension. Max pain — the price level where the largest number of options expire…
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What the Numbers Actually Say. Putting it all together, the market isn't screaming in one direction.
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Bitcoin is sitting near $81,273. And traders are carrying more than $100 billion in combined futures and options exposure right now — a number that's hard to ignore.
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The breakdown is pretty straightforward on the surface. Futures open interest alone clocked in at roughly $56.3 billion as of Saturday. Binance leads the pack, holding $11.
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Not exactly a signal of panic. Or euphoria.
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The options side is where things get more interesting. Calls dominate, making up 60.74% of open interest. In raw BTC terms, that's 311,306.86 BTC in calls versus 201,232.
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The strike prices clustered around September 25 tell you where traders are focused. Deribit's data shows substantial open interest in calls at $70,000, $85,000, and $90,000 for…
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The overall strike range that's drawing attention spans $70,000 to $100,000, with heavy call interest above $82,000 specifically.
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Here's the tension. Max pain — the price level where the largest number of options expire worthless, causing maximum losses for option holders — sits well below bitcoin's current…
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Deribit's max pain for September 25 is around $72,000. Binance puts it at $76,000. OKX has it at $75,000. Bitcoin is trading near $81,273.
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Read also: Binance Launches 100x USD/BRL Perpetual Contracts in FX Derivatives Battle
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What does that mean practically? It's not a price prediction. But it does mean a large chunk of the options market could expire worthless if bitcoin stays where it is or climbs…
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Bitcoin's weekly range has been $75,038.12 on the low end to $81,674 on the high end. That's a spread of roughly $6,600 in a single week — meaningful volatility, even if the…
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One transaction worth noting: a wallet linked to BIT, previously known as Matrixport, moved 1,000 BTC — valued at $81.06 million — into Binance.
The Currency Analytics
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