Zooming out, futures open interest surged to nearly $90 billion in late 2025 before cooling alongside price. Even after the recent retracement, positioning remains elevated compared to earlier phases of the cycle, showing that traders are still deeply engaged in directional trades and hedges.
Bitcoin Options Skew Bullish With 60% Call Volume AdvantageOKX shows a similar gravity point near $70,000 for February contracts, rising toward $82,000 for March and around $85,000 for later dates. Deribit’s curve stretches higher, with March near $85,000 and September peaking close to $90,000 before easing toward roughly $85,000 into December 2026.
FAQ What is bitcoin futures open interest right now?Total bitcoin futures open interest stands at 639,780 BTC, valued at $43.81 billion. Are calls or puts dominating bitcoin options markets?Calls lead with 56.21% of total open interest and 60.07% of 24-hour volume. What are the largest bitcoin options positions on Deribit?The biggest contracts are a $40,000 put for Feb. 27, 2026, a $120,000 call for Dec. 25, 2026, and a $90,000 call for March 27, 2026. Where are current max pain levels for bitcoin options?Max pain levels cluster between roughly $70,000 and $90,000 across Binance, OKX, and Deribit.
