Bybit derivatives report highlights bullish turn in crypto market sentiment
On April 25, Bybit, the second-largest cryptocurrency exchange in the world in terms of trading volume, released its latest weekly cryptocurrency derivatives report in collaboration with analytics firm Block Scholes. Despite showing signs of decoupling from U.S. equities earlier, the relief rally caused by President Trump’s positive comments regarding the trade war with China caused leading cryptocurrency Bitcoin (BTC) to resume trading in tandem with the stock market. However, despite a mostly positive series of events, a closer look at the datapoints collected by Bybit paints a slightly more nuanced picture. Derivatives report shows increased open interest— but Bitcoin puts are outpacing calls Per the April 25 derivatives report, cryptocurrency perpetual open interest reached levels above $8 billion in the closing days of April, representing a 1-month high in terms of outstanding derivatives contracts. Cryptocurrency perpetual contracts open interest chart. S...
