This fit with recent market moves, including Coinbase massive buying signaled all over the place.

The company’s aggressive Bitcoin strategy put it firmly among the most important corporate holders of Bitcoin, as the company continued to drive Bitcoin further and further into its role as the store of value.

Bitcoin Options Open Interest Surges to $37.3B, Signaling Increased Hedging Activity

The options market got recalibrated after Bitcoin price sprinted past $100,000. The Options Open Interest (OI) rebounded sharply to $37.3B (+$3.8 Billion) compared to $33.5B a week earlier.

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An uptick in this suggested a resurgence in hedging activity within the market by market participants, growing interest among market participants, and a rallying of optimism in the derivatives market.

During the recovery, the current OI was still below November’s peak of $45.4 Billion. That meant the market was still consolidating after Bitcoin’s historic price achievement.

However, there was a change of sentiment in the market, and traders have started responding to Bitcoin’s bullish momentum.

Nevertheless, a lower peak OI in comparison to November could denote a slightly more optimistic outlook as investors test how long Bitcoin’s price can stay north of $100,000.

Bitcoin Options Volume Reaches $3.03B, Reflecting Cautious Market Re-engagement

Bitcoin’s Options Volume also showed signs of recovery from its slump, rising to $3.03 Billion. That’s still a much lower level than the $4.86 Billion recorded in November.

Traders took a more pragmatic market approach moving into this week, picking their spots selectively while developing an approach to risk management instead of full participation.

Options Volume marching steadily upward as Bitcoin’s price surged indicated that the market participants were starting to cautiously reengage.

It also fits into the overall momentum that, as volatility rises, traders are refining their strategies to help manage the possibility of losing more than aggressive exposure might gain.

Bitcoin’s strong rally past $100,000 should have been a boom in volume, but it’s a whisper instead, a reflection of how markets have shifted.

It shows that participants are less interested in merely speculative momentum and more about sustainability and precision on the part of the market.

Cost Basis Data (CBD) Highlighted Key Support Below the $100K for Bitcoin Price

The CBD suggested that the supply of Bitcoin formed at important price levels. According to recent data, $99,559 was the biggest acquisition area located before the $100K threshold with 125,000 BTC.

It was clear that there was a lot of buyer activity stepping in to meet trade close to the psychological bent. Another accumulation hotspot could be found in the $96K–$98K price range, with 120,000 BTC trapped.

Thus, indicating the zone was considered by traders and investors as a key level of support because Bitcoin could be stabilized in this Bitcoin price zone through any lowering corrections.

At these levels, supply was clustered because Bitcoin market participants were confident in its long-term growth, especially when it was above $100K.

The zones marked high activity zones supporting high potential support and resistance levels throughout the bullish trend.