Analysis: Bitcoin’s Rebound Toward $80,000 Spurs More Bullish Options Bets

Forecast Trend Report by Period

Bitcoin’s sharp recovery toward $80,000 is lifting sentiment in the options market, according to an analysis from Glassnode.

The on-chain analytics firm wrote on Aug. 28 that Bitcoin’s rapid rebound toward $80,000 is starting to shift momentum in options. Volatility is reviving, open interest is recovering and market positioning is tilting in a more positive direction.

A chart from Glassnode shows Bitcoin options open interest has risen quickly in recent days to nearly 550,000 contracts. The firm said derivatives positioning and market participation are picking up again as Bitcoin rebounds toward $80,000.

The options market is also pricing in wider price swings ahead. Bitcoin’s implied volatility index, or DVOL, has rebounded sharply from recent lows alongside the price recovery to around 41. Glassnode said demand for volatility is returning, though it remains well below past periods of elevated volatility.

Moves to guard against declines have notably eased. Glassnode said the 25-delta skew has dropped quickly across expiries, with short-dated contracts turning negative. That suggests hedging demand against downside risk is declining.