Mix the dough: In a large mixing bowl, whisk together the flour, salt, and yeast. Add the olives, water, and olive oil and mix with a wooden spoon until the dough comes together and the flour is moistened.

First rise: Cover the bowl and leave it to rise overnight until more than doubled in size, 12 to 18 hours.

Shape the dough into a ball: Lightly dust a work surface with flour. Tip the bowl slightly and use a dough scraper or rubber spatula to gently remove the dough from the bowl onto the work surface. Gently fold the dough into itself, shaping it into a ball.

Second rise: Generously dust a tea towel with flour and place the dough onto the towel, seam side down. Loosely fold the towel over the dough and place it into a mixing bowl. Leave it to rise in a warm spot until almost doubled, about 2 hours.

Preheat the oven: 30 minutes before the dough has finished rising, arrange a rack in the lower third of the oven, set a Dutch oven on the rack, and preheat to 475°F.

Bake the bread: Use oven mitts to carefully remove the preheated pot from the oven and remove the lid. Use the tea towel to invert the dough onto a piece of parchment paper. Using the edges of the parchment paper, lower the dough into the Dutch oven. Cover the pot and bake for 30 minutes.

Crisp the crust: Remove the lid from the Dutch oven. Bake uncovered until the bread is golden brown, about 20 minutes longer.

Cool: Carefully lift the bread out of the Dutch oven and let it cool completely on a wire rack before slicing.