Bitcoin traders have increased their use of options leverage, taking advantage of the recent decline in implied volatility for Bitcoin. The price range between $94,000 and $95,000 has contributed to this trend. Open interest in both Bitcoin and Ethereum options has seen a significant increase. Dr. Sean Dawson from Derive.xyz highlights that traders are capitalizing on the opportunity to buy calls at lower premiums, with 73% of BTC options premiums allocated for calls, indicating bullish sentiment. This activity reflects trader anticipation for price movements despite current low volatility levels. However, this leverage could significantly impact markets if volatility picks up.