The Bitcoin derivatives market has shown significant activity, with open interest on futures reaching $762.1 billion, and options traders are highly supportive of bullish call contracts.
Bitcoin Derivative Heat Up: Futures Open Giveaways Increases by almost 6% in 24 hours
Bitcoin Futures Market represents an agreement to buy or sell BTC at a future price. The key metric, open interest (OI), reflects the total value of active and unstable contracts. Current data shows that total Bitcoin futures are worth $762.1 billion at 699,230 BTC. This represents the total capital committed in currently active futures bets.
Over the past 24 hours, total Bitcoin futures OI has increased by nearly 6% at around 5.84%, indicating that traders have opened more new positions than they had been closed. The short-term changes were mixed, with a DIP of 0.96% over the past hour and a 0.45% decrease in 4 hours. The ratio of OI to 24-hour trading volume was at 0.7535, suggesting moderate leverage compared to recent activity.
Exchange-specific data reveals concentration. TOP Exchange's CME holds 154,050 BTC (1678B), leading 22.01% of the total market. Binance continues at 113,790 BTC ($12.40B, 16.27% stake). Other major players include BYBIT ($80.5 billion, 10.56%), GATE ($8.39B, 11.00%), and OKX ($4.33B, 5.67%). Kucoin, Bitget, Whitebit, Bingx, and Mexc hold less stocks. Most exchanges tested positive for 24-hour OI growth led by Kucoin (+14.27%) and Gate (+10.99%).
Moving the focus on Bitcoin (BTC) options, these agreements grant the owner the rights, rather than the obligation to purchase or sell (put) BTC at a set price by expiration date. Current total options open interest shows a clear bullish bias. The call represents 61.91% of the total OI (206,996.98 BTC), significantly outperforming put (127,344.66 BTC or 38.09%).
This bullish sentiment has become even stronger in recent trading activities. Over the past 24 hours, the call option volume constituted 63.31% (31,650.39 BTC) of all options traded, compared to 36.69% (18,343.10 BTC) of PUT. This shows that traders are actively positioned for potential price increases. Certain contracts control Delibit's open interest rankings. On September 26th, 2025, large-scale call options of $120,000 (6,663.5 BTC) including $140,000 calls (7,756.8 BTC) and July 25th, 2025 will lead. Volume Reader includes the same short-term calls and important put options, such as the $80,000 put on September 26, 2025.
Current derivative data is leaning against force. The expansion of Bitcoin futures has been profitable, particularly over 24 hours, indicating an increase in market participation and commitment to capital. More crucially, the Bitcoin options market shows a strong preference for calls in both open positions and recent trading volumes. This shows that the majority of traders are positioned for the potential benefits of Bitcoin price action. The combined data suggests general expectations for price intensity among derivative participants.
