BTC options open interest rises to nearly 550,000, market sentiment turns positive

Huo Xing Finance reports that, according to Glassnode data, as BTC rebounds toward $80,000, options market positioning has clearly shifted toward bullish sentiment. BTC open interest has rebounded to nearly 550,000 BTC, indicating renewed participation in the derivatives market; the DVOL volatility index has risen to approximately 41, though it remains below the previous high-volatility range of 50–60. Glassnode notes that the 25 Delta Skew across all maturities has narrowed significantly, with short-term skew turning negative, suggesting reduced demand for downside protection and a positioning bias toward balanced or bullish exposure. BTC is currently within a concentrated gamma zone of approximately $75,000 to $80,000, with recent capital flows concentrated at the $72,500 and $79,250 strike prices—both showing notable purchases of call options, while put demand remains relatively limited.