Open interest in Bitcoin futures has climbed past the $50 billion mark once more for the initial time this year. Does this represent sustainable leverage or a red flag? Anchorage Digital research director David Lawant views this as an indicator of strength, detailing how expanding spot trading volume and shallower order books suggest the beginning phase of a Bitcoin bull market.
Chapters:
0:00 Bitcoin Futures Open Interest Tops $50B – Healthy or a Warning Sign?
1:26 Reading Bitcoin’s Market Structure Beyond Open Interest
3:23 Rising Spot Volume, Thinning Order Books, and the Anthropic IPO
4:15 The Liquidity Absorption Ratio Explained
6:52 How to Spot a Bitcoin Market Regime Change
7:36 The $60B Bitcoin Options Market and the Volatility Curve
8:57 Why Short-Dated Bitcoin Volatility Stayed Elevated in 2026
10:09 What Bitcoin Options Tell You That Price Can’t
11:28 Lessons From Anchorage’s 37,000 Covered Call Backtests
13:29 How ETFs and Treasury Companies Are Changing Price Discovery
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Originally published at https://bitcoinmagazine.com/videos/david-lawant-bitcoin-entering-new-bullish-regime-according-to-options-market.
