Bitcoin Options Activity Signals Cautious Optimism
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On May 1, 2024, the total BTC options open interest is notably high at $17.09B, despite Bitcoin’s drop to $57,660. The market shows a preference for calls over puts, with 66.25% of open interests being calls, indicating a cautiously optimistic sentiment. This sentiment is supported by the last 24H trading volumes, where calls also led puts, representing 52.25% of the volume. This reinforces a trend of expecting upward movement in Bitcoin prices.
