Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released its latest weekly crypto derivatives analytics report in collaboration with Block Scholes. This report offers insights into macroeconomic developments, the state of crypto spot and derivatives markets, and emerging trading signals.
Key insights include the fact that crypto asset prices have been steadily climbing since hitting a low on March 11, with BTC briefly exceeding $87,000 and ETH surpassing $2,000. XRP has remained stable while BTC, ETH, and SOL are still below their year-opening levels. Derivatives activity reflects caution, with demand for BTC and ETH put options remaining high.
Perpetual open interest has remained flat, indicating a cautious approach in the market. Despite a brief market rebound that saw BTC rise to $88,000, funding rates for BTC and ETH perpetual contracts remain negative, suggesting bearish sentiment. Implied volatility has decreased, with options market activity slowing down.
For more detailed insights, readers can access the full report. Bybit is the world’s second-largest cryptocurrency exchange, focusing on creating an open and equal ecosystem for all users. With a strong emphasis on Web3, Bybit partners with leading blockchain protocols to provide innovative solutions in the decentralized world. Explore the future of decentralized finance with Bybit
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SOURCE: Bybit
