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Bitcoin futures turn aggressively long as whales return; CME gaps persist, ETF options surge, and IBIT near $40B, signaling shifting derivatives sentiment.
Market mood shifts in October
Bitcoin futures buy volume has surged, with net buy outpacing net sell by about $1.8 billion, CryptoQuant analyst J. A. Maartunn shows. Net taker volume on Binance indicates buyers are stepping up as traders move toward longer-term bets. CryptoQuant CEO KiYoung Ju noted that BTC’s latest local highs followed sustained buy momentum from derivatives whales, a sign of aggressive long positioning among large traders.
CME gap remains unfilled
The CME Group’s roughly $110,000 gap on Bitcoin futures remains unfilled. Analysts had viewed the gap as a near-term correction target, but price action has not deepened a retracement to fill it yet. In related coverage, CME has discussed moving Bitcoin futures to around-the-clock trading, which could reduce the persistence of gaps in the future.
ETF options surge; IBIT leads
US spot Bitcoin ETFs continued drawing inflows, with more than $600 million added on Thursday and weekly totals rising toward $2.25 billion. James Check of Checkonchain highlighted rapid growth in options on BlackRock’s IBIT, noting the market structure shift as IBIT options grow and even surpass Deribit in some measures. Bloomberg’s Eric Balchunas reported IBIT open interest near $38–40 billion, underscoring a broader shift in the options landscape.
What this means for traders
The combination of rising futures buy volume and expanding ETF/option activity points to continued upside expectations for BTC in the near term. Traders are watching for how CME’s clock-change plans and the IBIT/Deribit dynamics unfold, as these factors can influence price action toward new highs. As always, market risk remains, and readers should conduct their own research before making trades.
Disclaimer: This article is not financial advice and does not constitute a recommendation to buy or sell any asset.
