DUBAI, UAE, July 15,
2024 /PRNewswire/ -- Bybit, the world's
second-largest cryptocurrency exchange by trading
volume, in partnership with BlockScholes, has released its latest
Crypto Derivatives Analytics Report, highlighting a
notable divergence in investor sentiment between
Ethereum (ETH) and Bitcoin
(BTC).
The report, analyzing market trends and trading signals across
spot trading volume, futures, options, and perpetual contracts,
underscores a growing bullish sentiment toward ETH.
Key findings indicate that investors are increasingly optimistic
about ETH, particularly in anticipation of the
imminent launch of the first Ether Spot ETFs in the United States. This optimism is reflected
in ETH's sustained volatility premium over BTC, which
has persisted amid heightened market activity.
Key Highlights from the Report:
- Bullish Sentiment
Toward ETH: BlockScholes's Senti-Meter
Index reveals a bullish sentiment among investors toward
ETH compared to BTC. This sentiment is influenced by
expectations surrounding the imminent ETF launch for
Ethereum.
- ETH Futures Outperforming BTC: Despite
recent market fluctuations, ETH futures have shown a
quicker recovery in open interest compared to BTC. This recovery
trend suggests a robust market narrative focused on
ETH's ETF prospects.
- Strong Perpetual Trading
in ETH: Significant trading volumes in
ETH perpetual contracts indicate substantial long
positions, possibly driven by strategic positioning ahead of
anticipated market developments.
- High ETH Option
Volatility: ETH options market volatility
remains elevated, especially in anticipation of ETF approval,
contrasting with BTC options, which exhibit a more defensive
posture.
In response to the findings, Bybit's Head of Institutions,
Eugene Cheung, commented: "The
latest data underscores ETH's resilience and market
appeal as we approach key regulatory milestones. Investors are
demonstrably positioning themselves favorably amidst growing market
expectations."
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world's second-largest cryptocurrency
exchange by trading volume, serving over 33 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.
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