Open interest in Bitcoin options has exceeded futures trading volume for the first time in history, indicating a shift in investor behavior and market sophistication. of BTC According to Checkonchain’s on-chain data, options open interest peaked at $74.1 billion.
BTC Options open interest soared as financial institutions joined in on the crypto trend. Cryptocurrency options open interest is overshadowing futures market volume. For the first time in history, BTC Options open interest exceeds futures trading volume on major exchanges such as Binance, OKX, Bybit, and other platforms such as IBIT and Deribit.
Bitcoin options open interest has peaked at $74.1 billion, according to on-chain data
According to data From the blockchain analysis platform Checkonchain, BTC Options open interest peaked at $74.1 billion, while Bitcoin futures open interest remained at $65.2 billion. According to the data, the majority BTC Open interest in options is on IBIT and Deribit. At the same time, centralized exchanges such as OKX and Bybit are the lowest. BTC Open interest according to the data.
IBIT recorded $37.12 billion in Bitcoin options open interest, followed by Deribit with $30.84 billion. Among the exchanges, Bybit took the lead with $918,085,000, followed by Binance with $965,066,000.
Significant changes in market dynamics indicate a shift in investor behavior towards structured risk management strategies. Options give investors the flexibility to hedge and speculate on Bitcoin’s future price while controlling risk. Options are typically more beneficial to institutional investors and experienced traders because they allow for better risk management, unlike the more rigid and loss-prone futures market.
Bitcoin hashrate has fallen 15% from its October peak
BTC According to CoinMarketCap, it is trading at $93,189, down 2.11% in the past 24 hours. Bitcoin’s hashrate is also down 15% from its October peak, indicating that miners are buckling down as profit margins shrink. Bitcoin’s average computational power has fallen from 1.1 zetahashes/second (ZH/s) in October to around 977 exahashes/second (EH/s).
data Glassnode’s graph shows the hash ribbon metric, which tracks miner capitulation by comparing short-term and long-term hashrate trends, reversed on November 29, shortly after Bitcoin bottomed near $80,000. This reversal usually indicates that miners are selling their assets. BTC It is held as operational funds and exerts bearish pressure on the Bitcoin price.
According to VanEck, a global investment management firm and crypto ETF issuer, miner capitulation could signal a bottom and an impending rise in stock prices. BTC Towards new highs. Previous coverage by Cryptopolitan revealed At that time BTCThe hashrate continued to decline, but the market typically responded with larger and more frequent increases.
another report He highlighted that Bitcoin miners are transitioning to renewable energy sources as cash prices fall below break-even. The report noted that miners have shifted to renewable energy sources to reduce costs. In April 2025, miners moved away from coal in favor of wind and solar energy as the primary drivers of high-energy activities. The report, titled “Mining the Future: Bitcoin’s Carbon Footprint and the Path to 2030,” highlighted that by 2030, 70% of the energy used to mine Bitcoin will come from renewable sources.
Further selling pressure is also related to the rise of AI technologies, which are partially or fully converting miners into data center operators. Companies like Riot Platforms (RIOT) offloaded Use a portion of your Bitcoin holdings to finance capital-intensive AI and HPC investments. The decline will contribute to short-term price pressure and cause Bitcoin to decline.
data According to research by SosoValue, the US Spot Bitcoin ETF recorded over $390 million in outflows on January 18, marking the first day of negative flows after four consecutive days of positive flows last week. US President Donald Trump has threatened to raise tariffs by 10% on the UK and several EU countries to support Greenland as the US prepares to take over the country. The threat of tariffs caused risk assets such as cryptocurrencies to plummet, while safe-haven assets such as gold and silver rose.
