dubaiUAE, November 28, 2024 /PRNewswire/ — bybitThe world’s second-largest cryptocurrency exchange by trading volume has teamed up with Blocks Scholes to release its latest weekly derivatives analysis. report This is a discovered signal that indicates that ETH has risen above BTC in the past week.
Thanks to the news from the current US SEC Chairman by Gary Gensler Starting at the end of the Biden administration’s term, ETH’s performance has positively surprised investors. In particular, ETH perpetual open interest is increasing. Several large altcoins also benefited from Gensler’s announcement and expected less scrutiny for the coming January.
Key insights:
ETH surpasses BTC in open interest. Perpetual swap data shows that BTC open interest is gradually decreasing, while ETH contracts are increasing. Additionally, ETH has been accounting for a larger share of daily trading volume over the past six months despite the overall market downturn this week. This optimism could be attributed to hopeful investors’ expectations of a more cryptocurrency-friendly SEC chairman following Gensler’s final days. January 20, 2025.
BTC price at retreat: BTC price is trending downward. $100,000 The mark flattened the ATM volatility term structure with short-term options falling below 60%. This reflects the pattern observed following the US election. While lower realized volatility explains the decline, open interest on calls and puts remains unchanged and demand for short-term options has stagnated this week.
ETH Options – Moderate Bullish Sentiment: ETH options are showing a slightly more bullish tone than BTC options. The market has rebalanced since its post-election highs, but call options still lead in both volume and open interest.
Access the full report:
read full report In context here.
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