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.
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
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