Bitcoin Options Traders Go Bullish for First Time in a Year

Bitcoin options traders have shifted their stance to bullish for the first time in 12 months. The latest data shows that calls now make up 61.39% of open interest, indicating a higher demand for upside bets compared to downside protection.

Futures open interest remains high at $52.64 billion, led by Binance and CME, but Bitcoin's price is still near $78,000, well below its October 2025 peak of over $126,000.

The key strike prices for calls cluster between $70,000 and $100,000, while max pain levels hover below current prices. This cautious optimism suggests traders are more willing to bet on price gains, but the market remains watchful as Bitcoin's price must test these bullish expectations in the near term.