The price and trading volume of Bitcoin are on the rise, accompanied by unprecedented levels of open interest in Bitcoin options, surpassing $17 billion.

A previous all-time high of $16.35 billion had been recorded shortly before this latest surge.

Market hype continues for Bitcoin options Investors have the right to buy or sell an asset at a predetermined price on a future date through options. An increase in open interest in Bitcoin options is viewed positively by the market, signaling a rise in investor funds flowing into the market.

At the initiation of the contract, the execution price is set, and the cost of obtaining the option, known as the premium, is paid at that moment.