Key points:<\/strong><\/p>\n Bitcoin futures buy volume indicates that traders are becoming increasingly long-term bullish on BTC this month.<\/p>\n<\/li>\n The $110,000 \u201cgap\u201d in CME Group\u2019s Bitcoin futures remains unfilled.<\/p>\n<\/li>\n Bitcoin ETF options experience a spike in popularity as IBIT open interest nears $40 billion.<\/p>\n<\/li>\n<\/ul>\n Bitcoin (BTC<\/a>) derivatives traders are flipping \u201caggressively long\u201d as price squeezes closer to all-time highs.<\/p>\n In a new analysis<\/a> released on X Friday, J. A. Maartunn, a contributor to the onchain analytics platform CryptoQuant, revealed a significant shift in Bitcoin futures in October.<\/p>\n Bitcoin futures markets are undergoing a transformation in sentiment as October gets underway.<\/p>\n As Maartunn showed, net buy volume has surged, and is now outpacing net sell volume by $1.8 billion.<\/p>\n \u201cFutures buyers are stepping up,\u201d he commented alongside a CryptoQuant chart of net taker volumes on the largest crypto exchange, Binance.<\/p>\n The post was a response to observations<\/a> by CryptoQuant CEO Ki Young Ju, who noted that Bitcoin\u2019s latest local highs came on the back of sustained buy momentum among derivative-market whales.<\/p>\n \u201cA clear sign of aggressive long positioning,\u201d Maartunn added.<\/p>\n Just days ago, futures markets were hitting the headlines for the opposite reason.\u00a0<\/p>\n A weekend \u201cgap\u201d left in CME Group\u2019s Bitcoin futures had become a new short-term BTC price correction target<\/a> for traders, lying just above $110,000, per data from\u00a0Cointelegraph Markets Pro<\/a>\u00a0and\u00a0TradingView<\/a>.<\/p>\n Despite gaps being filled within weeks or days in recent months, sellers failed to initiate a deep enough retracement this week.<\/p>\n As Cointelegraph reported<\/a>, plans are afoot at CME to make Bitcoin futures trade around the clock, removing the \u201cgap\u201d phenomenon.<\/p>\n The US spot Bitcoin exchange-traded funds (ETFs), meanwhile, took in more than $600 million<\/a> during Thursday\u2019s Wall Street trading session.<\/p>\n Related: <\/strong><\/em>Bitcoin\u2019s next stop could be $125K: Here\u2019s why<\/strong><\/em><\/a><\/p>\n With the week\u2019s total at $2.25 billion at the time of writing, ETF data continued to surprise.<\/p>\n In an X post<\/a> Friday, James Check, creator of onchain data resource Checkonchain, flagged surging growth in options on the largest spot ETF, BlackRock\u2019s iShares Bitcoin Trust (IBIT).<\/p>\n \u201cThe growth of IBIT options is the least discussed, but most significant markets structure shift for Bitcoin since the ETFs themselves,\u201d he argued.\u00a0<\/p>\n \u201cNot only did IBIT surpass Deribit, but Options are now larger then futures by open interest.\u201d<\/p><\/blockquote>\n Eric Balchunas, a dedicated ETF analyst for Bloomberg, initially reported<\/a> on IBIT surpassing Coinbase\u2019s Deribit, with the former\u2019s open interest now at $38 billion.<\/p>\n \u201cI told y\u2019all ETFs are no joke.. Fat crypto margins in trouble,\u201d he concluded.<\/p>\n This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n\n
Bitcoins Bitcoin futures buy volume surges in October<\/h2>\n
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Bloomberg analyst: Bitcoin ETFs are \u201cno joke\u201d<\/h2>\n