BTC options market signals growing expectations for further upside

As BTC approaches $80,000, the options market is showing signs of rising expectations for further gains, according to a Glassnode analysis. Glassnode said BTC options open interest has recovered to around 550,000 BTC, while demand for downside protection has eased and call buying has stood out around $72,500 and $79,250. Volatility indicators are also rebounding but have not yet reached overheated levels, suggesting there is still room for additional upside. At the same time, the concentration of options positions in the $75,000-$80,000 range could increase short-term price volatility.