KEY TAKEAWAYS
- Bybit and Block Scholes have released a new weekly crypto derivatives analytics report, highlighting Ethereum’s strong market performance.
- Ethereum has gained 40% in spot prices over the past week, with investors favoring call options, indicating potential for further growth.
- Bitcoin has returned to the $100,000 mark, but its short-term volatility has decreased, with a notable skew towards out-of-the-money call options.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released a new weekly crypto derivatives analytics report in collaboration with Block Scholes. The report details the recent market dynamics between Bitcoin (BTC) and Ethereum (ETH), with ETH leading the charge by gaining 40% in spot prices over the past week.
The report, announced here, highlights several key market indicators. Bybit’s trading data recorded positive funding data across the board, with positive futures curves and call-side volatility smiles at all tenors.
ETH’s Winning Streak
Ethereum’s recent performance has been noteworthy, with the cryptocurrency adding approximately $900 million in open interest during a rally that peaked between May 11 and 12. This marks the second consecutive week that ETH has outperformed BTC, driven by derivatives indicators suggesting further upside potential. Investors have shown a preference for call options over puts, positioning ETH for another potential surge.
BTC Volatility Trends
Bitcoin has also experienced significant market movements, returning to the $100,000 mark since early February. Despite this bullish trend, BTC’s short-term volatility has decreased to a low of 38%. The report notes a 5% skew towards out-of-the-money (OTM) call options, indicating a continued risk-on sentiment among investors. However, put options have dominated the market with over $200 million in volume compared to $140 million for calls.
For those interested in a deeper dive into these market trends, the full report is available for download.
Why This Matters: Impact, Industry Trends & Expert Insights
Ethereum’s recent market surge, as highlighted in the Bybit and Block Scholes report, underscores ETH’s strong performance with a 40% increase in spot prices over the past week. This positions Ethereum as a leading force in the current crypto market dynamics.
Recent industry reports indicate a significant bullish trend for Ethereum, with price momentum and optimistic market forecasts driving its rise. This aligns with the reported market surge, showcasing Ethereum’s potential for continued growth.
A Crypto Basic report highlights that Ethereum is attracting significant investor inflows, turning market sentiment bullish. This supports the observed preference for call options over puts, indicating investor confidence in Ethereum’s upward trajectory.
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