Bitcoin Futures Hit $49.82B on July 22, Deribit Calls Surge to 65.88%

According to Coinglass data on July 22, Bitcoin futures open interest across major exchanges reached $49.82 billion, with Binance holding the largest share at $9.24 billion. Deribit, the dominant options venue, showed pronounced bullish positioning: calls outnumbered puts 65.88% to 34.12%, with the largest single position being July 31 expiry $72,000 calls holding 26,265.5 BTC of open interest.

Max pain analysis points to $72,000 by late September on Binance, the highest projection among major exchanges. Meanwhile, CME bitcoin options open interest climbed from roughly $10 million in June to $50-60 million currently, indicating growing institutional participation. However, Bitfinex analysts noted the recovery has been driven primarily by reduced selling pressure rather than fresh capital inflows, with 30-day trading volumes at just 62% of annual average.