Dubai, United Arab Emirates, January 17, 2025, PK Press Club
Bybit, the world’s second largest cryptocurrency exchange by trading volume, has released the latest weekly crypto derivatives report in collaboration with Block Scholes. The report provides a final overview of movements and signals in the derivatives market as Trump’s inauguration approaches. The whole thing found its rhythm in the absence of major news events, with the spot market growing steadily in the second week of the year.
The data highlighted that realized volatility caught up with implied volatility after the winter lull, indicating a more energetic market. Trading volumes on perpetual contracts have normalized, although participants appear to be waiting for clearer crypto-specific catalysts for more decisive positioning.
Key information:
Funding Rates Signal Strength of Long Positions: Perpetual swap funding rates remained positive despite fluctuations in spot prices, indicating sustained demand for long positions. While BTC and ETH lead the market, CRV has shown consistently bullish rates, contrasting with ATOM which has fallen 30% from monthly highs.
BTC Options Reflect Long-Term Optimism: BTC realized volatility has recovered to match implied levels following the holiday lull. While short-term options show increased hedging activity, longer-term contracts maintain an uptrend with high implied volatility in the 50s range, supported by balanced open interest between calls and calls. sale.
Volatility Patterns Turn Bullish After CPI: Recent CPI data has sparked a shift in volatility smiles for BTC and ETH, with OTM calls showing higher implied volatility than puts near BTC’s $100,000 level. This marks a reversal from the short-term bearish sentiment of the previous week, highlighting the market’s sensitivity to macroeconomic factors.
Sources: Bybit, Block Scholes
The full report, including detailed analysis of volatility trends, funding rates and options market dynamics, is available for download.
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About Bybit
Bybit is the world’s second largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for all. With a strong focus on Web3, Bybit strategically partners with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, enabling builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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