Bitcoin Options Market Remains Bullish Amid Decline in Open Interest

Bitcoin's options market continues to show a bullish bias despite a decline in total open interest. The current situation has call options dominating both open interest and trading volume, making up 66.24% of outstanding contracts.

This indicates traders' continued optimism for Bitcoin's upside potential. The most active contracts focus on near-term and year-end strikes between $68,000 and $80,000, signaling expectations of price gains.

While some downside hedging exists, the market largely favors a positive medium-term outlook for Bitcoin. Key July 31 expiries are drawing close attention for potential volatility and positioning shifts.