Dubai, United Arab Emirates, October 25th, 2024,
Chainwire
Bybit, the world’s second-largest cryptocurrency
exchange by trading volume, in collaboration with Blocks Scholes,
releases a new report on the state
of crypto derivatives. The report reveals cautiously optimistic
market sentiment in the lead-up to the U.S. presidential election,
alongside fluctuations in at-the-money (ATM) implied volatility.
However, analysts believe that investors who may be anticipating
BTC price to reach the next major milestone mark may want to temper
expectations until after the election dust settles.
The report also illustrated a tangled
relationship between BTC price and election odds. As the divergence
between Trump’s and Harris’s odds widened, BTC spot prices were on
the rise along with Trump’s improved winning chance but has
recently pulled back.
Key Insights:
Strong funding rates across
tokens: From DOGE to BTC, all tokens are showing
consistent and positive funding rates across the board for
perpetual contracts. Traders are accumulating long positions,
aiming for leveraged exposure in anticipation of the upcoming
election. As investors increase their long-term exposure, the
markets crescendo towards bullish sentiments.
BTC calls drove up implied
volatility: BTC call options were leading in open
positions and contributed to the upward trend of 14-day tenor
options in the previous week. However, other tenors have generally
seen downward pressure.
Plunging Implied
Volatility: Large movements in 7-day implied volatility
shaped very steep term structures for ETH options. In contrast with
the calm in ETH spot prices and low short-dated realized
volatility, the current landscape demonstrates heightened
anticipation of the impending U.S. election and overall optimism
with growing open positions of ETH call options.
To Access the Full
Report:
Block Scholes x Bybit
Crypto Derivatives Analytics Report (2024.10.23)
#Bybit / #TheCryptoArk
/#BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by
trading volume, serving over 50 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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Contact
Head of PR
Tony
Au
Bybit
tony.au@bybit.com