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Jamie Redman
Markets and Prices
Bitcoin Taps $110K as Crypto Market Erupts With Billions in Fresh Volume
The price of bitcoin barreled past the $110,000 mark, notching an intraday peak of $110,587 per coin. With that move, the top digital currency now commands a market cap of $2.19 trillion—taking up 63.8% of the $3.44 trillion crypto economy. At the time of writing, at 7:30 p.m. Eastern time, bitcoin is changing hands for $110,077.
Bitcoin Bulls Charge Ahead as Options Market Tilts to Higher Altitudes
On Monday, the crypto economy’s overall market capitalization climbed 3.85%, while bitcoin (BTC) tacked on 4.1% over the previous 24 hours. Other major tokens joined the rally: ethereum ( ETH) bounced more than 6%, and dogecoin ( DOGE) rose 5.6%. Global trade volume also picked up speed, hitting $119 billion—a 42.95% jump compared to the day before.
Bitcoin Taps $110K as Crypto Market Erupts With Billions in Fresh Volume
BTC/USD 1-hour chart on June 9, 2025.
Bitcoin futures open interest is on fire, totaling 696,450 BTC, or $76.69 billion at press time. CME leads the way with 151,010 BTC in OI—valued at over $16.6 billion—and claims a 21.68% share, a sign of significant institutional activity. Binance isn’t far behind, reporting 117,180 BTC ($12.9 billion) for a 16.82% slice. Both platforms saw noticeable 24-hour gains in OI: CME with a 4.21% lift, and Binance rising 4.42%, suggesting fresh positioning on the long side or renewed hedging.
The options scene remains tilted toward calls, with 62.38% of all open interest—230,925.8 BTC—stacked in call contracts. Puts make up the remaining 37.62%, or 139,250.36 BTC. The 24-hour trading volume mirrors this, with 62.97% (23,817.55 BTC) focused on calls and just 37.03% on puts. That skew hints at continued appetite for upward moves, likely fueled by traders bracing for more gains or aiming at bullish breakouts into late June.
When it comes to open interest, traders are eyeing bold bets: far out-of-the-money calls dominate the board. The biggest positions are the $140,000-call expiring Sept. 26 and the $120,000-call expiring June 27. These strike prices suggest confident—if aggressive—speculation. On the flip side, the largest put in play is the $85,000 strike for June 27, pointing to some cautious downside protection in the near term.
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