Bitcoin Futures Hit $61.9B as Traders Pile Into Both Sides of the Market

CME Tops the Futures Leaderboard astatine $9.72B — Here’s What Institutional Money Is Doing

Total futures unfastened involvement stood astatine 759,550 BTC, with Binance holding the largest stock astatine 144,730 BTC and $11.79 cardinal notional, bully for 19.05% of the planetary market. CME ranked archetypal by a antithetic measure; its OI/24h volume ratio deed 2.0071, the highest connected the board, pointing to heavy organization positioning comparative to regular trading activity. CME futures unfastened involvement came successful astatine 119,240 BTC, worthy $9.72 cardinal and 15.69% of full marketplace share.

The broader futures representation showed a 24-hour unfastened involvement summation of 1.61% crossed each exchanges, with a four-hour determination of +3.72%. BingX stood retired with a 24-hour unfastened involvement leap of 17.81%, the biggest one-day determination connected the leaderboard. Kucoin moved successful the other direction, shedding 17.25% of unfastened involvement implicit the aforesaid period, which was the sharpest single-day driblet among large platforms.

57% Calls, 42% Puts: Bitcoin Options Traders Are Still Leaning Bullish

On the options side, the call-to-put skew favored bulls. Global options unfastened interest, according to coinglass.com stats, showed 272,501.92 BTC successful calls against 204,098.61 BTC successful puts, a 57.18% to 42.82% split. The 24-hour volume breakdown leaned harder toward calls; 70% versus 30%, oregon 58,825.09 BTC successful calls and 25,211.63 BTC successful puts. Deribit’s Dec. 25, 2026, $120,000 telephone held the apical unfastened involvement fertile astatine 6,980.8 BTC, portion the May 29 $75,000 enactment ranked 4th astatine 6,226.2 BTC.

Total bitcoin options unfastened involvement reached astir $40 billion, up from the $14.68 cardinal level seen successful mid-2024. Stats person intimately followed spot price, fundamentally peaking adjacent $120,000 earlier pulling backmost alongside the correction that carried bitcoin toward $65,000 and little earlier this year. The betterment backmost supra $80,000 has brought options OI backmost toward the $40 cardinal range.

Image source: Coinglass stats.

Max symptom levels crossed Deribit, OKX, and Binance each clump successful the $78,000–$81,000 scope for near-term expirations. OKX max symptom information shows levels adjacent $80,000 for May 15, dipping toward $75,000 for May 29 earlier recovering for the June 26 date. Notional worth stacked connected the May 29 OKX expiry has reached $1.24 billion, the heaviest stat connected the spread.

Deribit’s max symptom curve follows a akin arc. May 15 sits adjacent $80,500, the curve dips to $75,000 astir May 29, past climbs backmost to astir $80,000 for June 26. The notional volume astatine that Deribit June 26 expiry topped $14.52 billion, dwarfing each different expiration day connected the board. Binance shows a antithetic shape, with max symptom peaking adjacent $85,000 for the June 5 contracts earlier fading toward $78,000 arsenic expirations agelong further out.

CME options information from Cryptoquant showed a wide structural displacement implicit the past year. Options unfastened involvement stacked by expiration peaked adjacent 70,000 contracts successful precocious 2025 earlier dropping sharply arsenic bitcoin corrected. The 2026 betterment has been quieter; the existent CME OI sits astir 10,000 contracts successful near-term buckets, with the 1–2 period expiry model making up the bulk of positioning.

The CME put-versus-call breakdown showed puts dominating telephone unfastened involvement done astir of Q1 2026, a play that aligned with bitcoin trading betwixt $65,000 and $85,000. That put-heavy publication astatine CME reflects organization players utilizing regulated options to hedge downside alternatively than pursuit upside, a antithetic posture than what retail-heavy platforms similar Deribit and OKX amusement connected volume.

The exchange-level futures unfastened involvement chart, tracking each platforms combined, showed full OI adjacent $62 cardinal aft bottoming beneath $30 cardinal successful aboriginal 2026. The rhythm highest came successful precocious 2025, adjacent $90 billion, erstwhile bitcoin traded adjacent to $120,000.

The information taken unneurotic shows a marketplace that has rebuilt meaningful derivatives vulnerability since the correction, with options traders leaning bullish connected volume but hedged connected unfastened interest. Max symptom adjacent $80,000 gives marketplace makers a wide gravitational propulsion heading into this week’s expirations, and with $14.52 cardinal stacked astatine the Deribit June expiry, the summertime months transportation existent weight.