Bitcoin futures open interest has risen from above $50 billion to approximately $53 billion, with Binance holding $11.01 billion, or 20.77% of the market, and CME holding $8.46 billion, or 15.96%. Anchorage Digital research chief David Lawant attributed the increase to stronger activity and said rising spot volume and thinner order books suggested Bitcoin's recovery was in its early stages. Options open interest stood near $36 billion after exceeding $50 billion before the latest major expiry, with calls representing 60.88% of outstanding positions. Deribit's Oct. 30 $95,000 call was the largest displayed position at 23,350.8 BTC, while max-pain levels of about $76,000 on Deribit, $79,000 on Binance and $80,000 on OKX remained below Bitcoin's $84,144 price at 2 p.m. Eastern on Sept. 30, 2026. Bitfinex analysts said reduced leverage, lower implied volatility and slower ETF inflows made the next sustained move more dependent on spot-market demand.