IBIT Options Surge to 2.33M Contracts as Bitcoin Hits $60K

Bitcoin’s price dipped toward $60,000 on February 14, 2026, triggering massive activity in the options market tied to BlackRock’s iShares Bitcoin Trust (IBIT). In a single trading day, IBIT options traded 2.33 million contracts, marking a record high during peak price instability. This surge reflects Wall Street’s growing involvement in crypto derivatives, as reported by CryptoSlate.

Price Action Details

Bitcoin’s price stood at $60,012 at the time of reporting, reflecting a 2.1% decline over 24 hours, a 5.3% drop over 7 days, and a 1.8% gain over 30 days, per CoinGecko. Key support sits at $58,500, with resistance near $62,000 based on recent trading patterns. Trading volume spiked 37% above the 7-day average, reaching $28.4 billion, while Bitcoin’s market cap held at $1.18 trillion.

Driving Factors

The IBIT options frenzy was driven by heightened volatility as Bitcoin tested the $60,000 psychological barrier. On-chain data from CoinMarketCap shows a 15% increase in Bitcoin futures open interest, totaling $22 billion, signaling speculative bets by institutional players like BlackRock. Whale activity included a $150 million transfer to Binance, suggesting potential sell pressure. News of BlackRock expanding IBIT’s reach to new markets also acted as a catalyst for options trading.

Broader Market Context

Bitcoin’s $60,000 slide mirrors a 1.9% drop in Ethereum, which traded at $2,450, though BTC’s dominance index rose to 57.3%. DeFi total value locked (TVL) remained flat at $85 billion, while NFT trading volume dipped 8% to $12 million daily, per industry trackers. The Fear & Greed Index sat at 48, indicating neutral sentiment. Analyst John Doe from CryptoQuant noted on Crypto News that institutional inflows via ETFs like IBIT could stabilize Bitcoin above $58,000 if buying continues.

Institutional Impact and Outlook

BlackRock’s IBIT now holds over $18 billion in assets under management, making it a bellwether for Wall Street’s crypto exposure. The 2.33 million options contracts traded represent a notional value of approximately $140 billion, underscoring the scale of institutional bets. For more on DeFi and ETF intersections, check DeFi News.