Cryptocurrency24 Jul 2026SEO 801 min read

Analysis: A $5 billion cluster has formed in bitcoin options. It tells a bullish story

Bitcoin's $70,000 and $72,000 call strikes on Deribit have accumulated nearly $5 billion in open interest, with calls outnumbering puts by a significant m…

Bitcoin's $70,000 and $72,000 call strikes on Deribit have accumulated nearly $5 billion in open interest, with calls outnumbering puts by a significant margin. Bitcoin options on Deribit are heavily concentrated at the $70,000 and $72,000 strikes, which together account for nearly $5 billion, or about 18%, of the exchange’s $28 billion in open interest. Call positions at those strikes vastly outnumber puts, reflecting strong bullish sentiment. Large bull call spreads and outright call pur…

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