DUBAI, UAE, Nov. 8, 2024 /PRNewswire/ -- Bybit [https://www.bybit.com/en/press], the world's second-largest cryptocurrency exchange by trading volume, in partnership with Block Scholes, today released its latest post-election crypto derivatives analytics report. The report dives deep into the market behavior following the conclusion of the 2024 U.S. election, revealing a clear shift towards renewed bullishness and a strong appetite for leveraged long positions.
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Market Behavior in Focus
With election uncertainty now behind, the report shows that traders are leaning strongly toward leveraged long positions, especially in perpetuals and futures contracts. Short-term volatility has decreased, and BTC's price structure has leveled out, suggesting a more stable market. The steady trading activity over the weekend further highlights the ongoing strong interest in crypto assets.
Key Findings:
-- Sharp Decline in Short-Term Volatility: As election uncertainty cleared,
short-term implied volatility for both BTC and ETH witnessed a
significant drop.
-- Flattening of BTC Term Structure: While the term structure for BTC
flattened, ETH's evolved into a steeper curve, potentially reflecting
increased long-term uncertainty surrounding Ethereum.
-- Resurgence of Leveraged Positions: Following a pre-election reduction,
leveraged positions have bounced back strongly. Open interest in both
perpetuals and futures contracts has climbed, indicating a willingness
to embrace risk once again.
-- Record High Positioning: Despite the election risk subsiding,
positioning across all markets is near all-time highs, showcasing a keen
interest in maintaining leveraged long exposure as BTC reaches new
records.
-- Robust Trading Volumes: Trading volumes remained robust throughout the
week, even over the weekend, highlighting sustained market activity.
-- Renewed Interest in Directional Bets: Perpetual swap open interest
mirrored the trend seen in futures contracts. A decline during
pre-election turbulence was followed by a sharp rise as the election
outcome became clear, suggesting renewed focus on directional bets to
capitalize on positive post-election movement.
-- Increased Options Interest: Despite subdued option trading volumes, open
interest for BTC options has surged. This points towards a growing
interest in positioning for potential long-term volatility in the
aftermath of the election.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-nov-6-2024/ [https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-nov-6-2024/]
#Bybit / #TheCryptoArk /#BybitResearch
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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