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Crystalline Tension — Calls Dominate Puts as Bitcoin Derivatives Swell in Tight Trading Band

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Abstract
Bitcoin has been range-bound this weekend, hovering between $67,563 and $68,636 over the last day on Saturday, Feb. 21, 2026, and derivatives traders have been anything but quiet. Futures and options data show billions in open interest stacked across major exchanges, with calls maintaining a firm edge over puts. Bitcoin Derivatives Snapshot: $45B in Futures, […]
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