Bitcoin Rally Replay: Derivatives Market Hints at Historic 2021 Performance | Bitcoinist.com
A surge in Bitcoin derivatives activity reminiscent of late 2021 has sparked renewed enthusiasm among traders....
- Bitcoin derivatives activity has surged, reminiscent of late 2021, indicating renewed enthusiasm among traders.
- Factors such as the cost of perpetual futures trades and increasing options open interest suggest a revival of speculative interest in Bitcoin.
- Anticipation surrounding the potential approval of the first US spot Bitcoin exchange-traded funds (ETFs) has contributed to the heightened attention.
- Deribit, the largest crypto options exchange, reported a record notional value of approximately $14.9 billion in Bitcoin options open interest.
- Bitcoin futures curves have shifted upward, indicating a positive price outlook.
- Data from Deribit reveals a predominance of bullish options bets on BTC, reaching $40,000 and even $45,000 by the end of December.
- The surge in Bitcoin derivatives activity and growing interest in options and perpetual futures indicate a renewed bullish sentiment among traders.
The sentiment in the article is generally positive, highlighting the surge in Bitcoin derivatives activity and the growing interest in options and perpetual futures. The anticipation of the approval of US spot Bitcoin ETFs has contributed to renewed bullish sentiment among traders.