DUBAI, UAE, July 24,
2024 /PRNewswire/ -- Bybit, the world's
second-largest cryptocurrency exchange by trading
volume, in partnership with BlockScholes, is pleased to release its
latest Crypto Derivatives Analytics Report.
The report delves into recent market movements and their
connection to political events, specifically highlighting the
impact of former President Donald
Trump's probability of reelection.
Key Findings:
The crypto market has rebounded significantly from
the June sell-offs, with open interest in futures and yields
showing notable recovery. This resurgence, termed the "Trump
Trade," aligns with the heightened market optimism surrounding
Trump's potential return to the White House and the implications
for pro-crypto policies.
Trump Trade and Market Recovery
The report details how the assassination attempt on Trump has
driven a sharp recovery in crypto spot markets.
Traders, buoyed by the increased likelihood of Trump's reelection,
have shown renewed confidence in the market. This optimism has
particularly benefited Bitcoin and
Ethereum, leading to a price recovery and a favorable
adjustment in market sentiment.
ETH Futures and Perpetual Contracts
The report also notes a significant uptick in
Ethereum futures trading volumes, with a flattening of
the term structure in yields, as anticipation builds for the
Ethereum Spot ETF launch. Meanwhile, perpetual swap
open interest has shown a moderate recovery, with a return to
favorable funding rates for significant
cryptocurrencies, except for Toncoin, which remains an
outlier.
ETH Option Volatility
Implied volatility for Ethereum has risen above
realized volatility levels, reflecting increased market uncertainty
and anticipation surrounding the launch of the
Ethereum Spot ETF. The premium for ETH
options remains higher than BTC's, indicating greater hedging and
speculative interest in Ethereum.
About Bybit's Report
Bybit's Crypto Derivatives Analytics Report
comprehensively analyzes current market trends, macro events, and
trading signals across spot trading volumes, futures, options, and
perpetual contracts. The report aims to provide valuable insights
into the evolving crypto landscape.
Download the Full Report here
#Bybit / #TheCryptoArk / #BybitResearch
About Bybit
Bybit is the world's second-largest cryptocurrency
exchange by trading volume, serving over 37 million users.
Established in 2018, Bybit provides a professional platform where
crypto investors and traders can find an ultra-fast
matching engine, 24/7 customer service, and multilingual community
support. Bybit is a proud partner of Formula One's reigning
Constructors' and Drivers' champions: the Oracle Red Bull Racing
team.
For more details about Bybit, please visit Bybit Press.
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SOURCE Bybit