Bitcoin Magazine David Lawant: Bitcoin Entering New “Bullish Regime” According to Options Market

Bitcoin futures open interest is back above $50 billion for the first time this year. Is that healthy leverage or a warning sign? David Lawant, head of research at Anchorage Digital, says it’s a sign of vitality, and explains why rising spot volume and thinning order books point to the early stages of a Bitcoin market upturn.

Chapters: 0:00 Bitcoin Futures Open Interest Tops $50B – Healthy or a Warning Sign? 1:26 Reading Bitcoin’s Market Structure Beyond Open Interest 3:23 Rising Spot Volume, Thinning Order Books, and the Anthropic IPO 4:15 The Liquidity Absorption Ratio Explained 6:52 How to Spot a Bitcoin Market Regime Change 7:36 The $60B Bitcoin Options Market and the Volatility Curve 8:57 Why Short-Dated Bitcoin Volatility Stayed Elevated in 2026 10:09 What Bitcoin Options Tell You That Price Can’t 11:28 Lessons From Anchorage’s 37,000 Covered Call Backtests 13:29 How ETFs and Treasury Companies Are Changing Price Discovery

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This post David Lawant: Bitcoin Entering New “Bullish Regime” According to Options Market first appeared on Bitcoin Magazine and is written by Patrick Green .