BTC options open interest concentrated above $120K in bullish bet

Bitcoin options open interest (OI) has reached an all-time high of $63 billion, Cointelegraph reported. On the crypto options exchange Deribit, OI for the $100,000 strike price stands at $2.17 billion, while over $6 billion in OI is concentrated at strike prices of $120,000 and above. The outlet noted that this reflects traders' continued expectations for price appreciation.