Bitcoin’s (BTC) tight range has put analysts in a fix, meaning, every bit of data is being analyzed to determine the direction of the impending breakout. Bitcoin options open interest data can provide some clues on what the larger investors are expecting but there are many other factors at play that could influence Bitcoin’s spot price.
Currently, the maximum open interest buildup in calls is at the $11,000 strike price and in puts at the $8,000 strike price. This suggests that the writers of these options do not believe that these levels are likely to be breached by expiry.