Odaily Planet Daily Report: Data shows that in mid-January, the total open interest of Bitcoin options contracts increased to approximately $74.1 billion, surpassing the total open interest of Bitcoin futures contracts at around $65.22 billion for the first time. Analysts point out that when open interest in options exceeds that of futures, it typically indicates that the market is shifting from original directional leverage to more structured risk exposure, such as hedging, yield strategies, and volatility positions. Additionally, according to Checkonchain data, the open interest of options contracts saw a sharp decline at the end of December last year, followed by a rebuild in early January. This pattern aligns with the market rebuilding risk after major expiration dates. In comparison, the change in open interest of futures contracts during the same period was more stable. (CryptoSlate)
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