Bitcoin's recent rally has breathed new life into the derivatives market after a stagnant July. As Bitcoin's price surged from $56,680 to $65,025 within a span of days, the futures market saw open interest spike from $26.97 billion to $33.25 billion. Similarly, the options market mirrored this spike, revealing traders' excitement. But the most compelling insight lies in the distribution of calls and puts, where over 65% were calls, indicating a crucial shift in market sentiment. So, what does this overwhelming preference for calls suggest about...
Bitcoin’s rally rekindles the derivatives market
Bitcoin's rally revitalized the derivatives market with rising open interest in futures and options.
2 min read
Updated: Jul. 17, 2024 at 3:46 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
