Options are eating the $BTC derivatives market alive

Went from ~25% to nearly 50% share while dated futures are getting phased out. Perpetuals now dominate the leverage game.

Structural shift in how degens trade volatility. Options give asymmetric upside without the liquidation anxiety that perps bring. Smart money rotating into theta plays and vol strategies.

If you're still only trading spot or perps, you're missing half the alpha.