Bitcoin's put/call open interest ratio dropped to 0.52 from 0.76, per Glassnode, as traders unwind bearish bets with BTC stabilizing near $67K.

Bitcoin derivatives open interest hits $49.82B as CME, Binance and Deribit options traders bet big on higher prices.

Bitcoin's options market has accumulated nearly $5 billion in open interest at the $70,000 and $72,000 strikes on Deribit, with several large deliberate trades driving the bullish…