Bitcoin (BTC) options traders appear to be clearing out leverage at scale, but positioning continues to lean bullish, with the largest concentration of open bets still clustered around a $120,000 year-end call option. Data compiled by CoinGlass showed total Bitcoin options 'open interest' (OI) at $31.81 billion as of 1:00 a.m.

Bitcoin Options Open Interest Drops 17% as $120,000 Call Dominance Persists