Bitcoin trading activity cools in October as options volume rises

Spot desks went quiet while derivatives traders kept busy, with Bitcoin options open interest holding between $37 billion and $38 billion Bitcoin spent October looking like a party where the music was loud but almost nobody was dancing. Crypto trading volumes fell over the month, while options volume and open interest both climbed. Bitcoin pushed past $85,000 early in October. The participation behind it was thin. Spot volumes averaged approximately $6.8 billion per day in early October. That daily average sat lower than roughly 90% of trading days since January 2024.

Source: Crypto Briefing