Bitcoin futures open interest has increased by almost 13% since the start of the year, indicating a potential rise in risk appetite for crypto. The OI has fallen 17.5% over the past three months but is now showing signs of recovery, reaching a high of $66 billion on Jan. 15. This could support a bullish momentum.

Despite the recent drop, Bitcoin futures OI is still 33% lower than its peak in October, signaling a deleveraging phase. This can serve as a strong foundation for a potential bullish recovery in the market. Futures OI remains an important indicator of market sentiment and trader activity in the crypto space.

Bitcoin options open interest has surpassed futures OI, with options providing more flexibility and stability compared to futures contracts. Aggregate Bitcoin options OI across all exchanges is at $75 billion, while futures OI stands at $61 billion. This shift suggests that big money is shaping price movements through hedging strategies and expiry mechanics.

Read more at Cointelegraph: Bitcoin Open Interest Recovers 13% As Options Flip Futures