Glassnode: BTC Options OI Rebounds to ~550K BTC, Sentiment Turns Positive

The rebound in Bitcoin options open interest to roughly 550K BTC signals a meaningful return of trader engagement, but the more telling shift is the sentiment turnaround. Rising OI alongside positive sentiment typically points to fresh positioning rather than mere unwinding, which could add depth to the derivatives market. The key is whether this reflects genuine conviction or short-term repositioning ahead of macro events. Watching whether OI sustains this level and if implied volatility follows sentiment will clarify if the shift is structural or fleeting.