The activity on Bitcoin derivatives remained supported during the weekend, the term contracts and the options displaying strong liquidity but a globally shared feeling. On Saturday, Bitcoin was exchanged at $ 109,449, the $ 110,000 mark constituting a key area for bullish bets as well as for coverage strategies. Market signals now call for caution: technical indicators are rather downwards, while the flows of term contracts and options reveal a significant positioning.
In short
- The open interest in term contracts reaches $ 77.45 billion, conducted by CME and Binance, while smaller platforms display contrasting performance.
- The inclination of the options remains dominated by 60.66 % of calls, but short -term flows are more cautious, with a significant increase in puts on key levels.
- The traders closely follow the calls from December to $ 140 k and $ 200 k, testifying to a long -term bullish appetite despite the current reserve.
- Bitcoin is exchanged around $ 109,479, slowed down by the slowdown in ETFs, profits and a fragile support close to the lower cycle.
Under -term contract market: $ 77.45 billion in open interest
The activity on future remains supported, with total open interest (OO) of 707.59 k BTC ($ 77.45 billion). The CME dominates with 138.82 k BTC ($ 15.19 billion), followed by Binance (123.30 k BTC / 13.50 billion $). Bybit keeps 84.39 k BTC ($ 9.23 billion), while OKX and Gate.io record 37.78 k BTC respectively ($ 4.13 billion) and 78.24 k BTC ($ 8.56 billion).
Secondary platforms have undergone contrasting developments : Bitget increased from 0.45 % to 52.33 k BTC ($ 5.72 billion), Kucoin fell 2.88 % to 6.12 k BTC ($ 669.49 million). Mexc gained 4.87 % at 26.42 k BTC ($ 2.89 billion), while Bingx falls strongly (-42.96 %) at 9.15 k BTC ($ 1 billion).
The calls still dominate, but the puts gain short -term ground
In terms of options, calls represent 60.66 % of open interest (199 102.16 BTC) against 39.34 % for puts (129,149.11 BTC). However, the recent volume switches slightly in favor of the puts: over the last 24 hours at Deribit, they total 16,247.21 BTC (50.87 %) against 15,694.48 BTC for calls (49.13 %), signaling an increased coverage activity.
Contracts close to the current trading level dominated short -term flows. The Put of September 28 at $ 110,000 was discussed at 1,311.9 BTC, while the October 10 put $ 100,000 added 853.3 BTC. On the bullish side, the CALL from October 31 at $ 116,000 saw 812.5 BTC negotiated.
Further on, the December deadlines reflect a marked appetite for higher levels. The Call of December 26 at $ 140,000 dominates with 9,804.5 BTC of open interest, followed by CALL at $ 200,000 with 8,527.2 BTC. Significant interest is also around $ 120,000 and $ 150,000 levels.
The current “maximum pain” beach is concentrated between $ 110,000 and $ 116,000, marking a key area where the bullish and the bearings are under pressure.
THE market feeling has become careful despite an important positioning:
- For the moment, 15 indicators display up bruise signals, while 18 are leaning towards the decline, tilting the feeling downwards.
- The fear & greed index is 37, reflecting a “fear” market mood.
- Bitcoin is exchanged near its lower cycle at $ 107,304, reporting a fragile support.
- The asset is 11.92 % below its highest cycle and only 1.93 % above the lowest cycle.
At the time of the editorial staff, Bitcoin is exchanged at $ 109,479, while taking profits and an outgoing ETF flow have slowed down the market, now the price just below the key level of $ 110,000.
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