Bitcoin Hits New ATH, But It's Not Price: Up $25.8 Billion
Emily HarrisBitcoin reaches a new historic peak, but it is not related to the price[...]
Bitcoin Options Open Interest Reaches Historic High, Signaling Sophisticated Market Participants
According to a recent report by Glassnode, an on-chain data aggregator, Bitcoin options open interest has reached a new all-time high, surpassing $46.2 billion. This represents a significant increase of $25.8 billion from recent lows, indicating a growing demand for more advanced hedging and trading strategies among market participants.
The extensive growth in Bitcoin options open interest has outpaced the same metric for Bitcoin futures, highlighting the rising sophistication of the cryptocurrency market. Glassnode explained that this trend suggests that market participants are seeking "more advanced hedging and strategy execution" as they become increasingly sophisticated in their trading approaches.
Michael Saylor Discloses Bitcoin Wallets Linked to His Company
Another notable development in the Bitcoin ecosystem is the disclosure of Bitcoin wallets linked to Michael Saylor's company, Strategy (formerly known as MicroStrategy). Arkham Intelligence has confirmed that Saylor has revealed the total value of Strategy's Bitcoin holdings, which amounts to approximately $5.45 billion, representing 87.5% of the BTC holdings publicly disclosed by Saylor.
This move comes after Saylor's previous stance against the concept of proof of reserves, which has been adopted by centralized crypto exchanges to increase transparency for users and the broader crypto community. Arkham's analysis indicates that Strategy now holds a total of 580,250 Bitcoins, valued at $63,009,579,600.
- Bitcoin options open interest has reached a new all-time high of $46.2 billion, up $25.8 billion from recent lows.
- The growth in options open interest outpaces Bitcoin futures, signaling rising sophistication among market participants.
- Michael Saylor's company, Strategy, has disclosed its Bitcoin holdings, which amount to approximately $5.45 billion.
- Strategy now holds a total of 580,250 Bitcoins, valued at over $63 billion.
