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Bybit's Latest Analytical Report Highlights Market Stability Amid Macroeconomic Developments By Chainwire

Bybit's Latest Analytical Report Highlights Market Stability Amid Macroeconomic Developments By Chainwire

Dubai, United Arab Emirates, August 30, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with Block Scholes, is pleased to release its latest Crypto Derivatives Analysis Report. This in-depth analysis provides insight into the cryptocurrency market, focusing on recent macroeconomic events and trading signals for futures, options, and perpetual contracts.

Key findings of the report:

Futures market stability amid volatility: Despite a significant spot price sell-off on Aug. 28, which pushed BTC below $59,000, open interest in futures markets has remained stable over the past two weeks. The report highlights that open interest in perpetual swaps has declined due to recent sell-offs, a pattern consistent with previous sell-offs this year. This suggests that traders are holding fewer overleveraged positions, reducing their risk during market turmoil.

Bullish sentiment after the US elections: The report also sheds light on the market reaction to the upcoming US presidential election on November 5, 2024. The term structure of volatility indicates that while near-term expirations show demand for downside protection, there is a stronger bullish bias for out-of-the-money (OTM) call options at post-election expirations. This may reflect the market’s anticipation of a favorable outcome for cryptoassets following the election.

TON funding rate turns positive: In a notable shift, TON’s funding rate has gone from being consistently negative to positive following the arrest of Telegram CEO Pavel Durov. This shift indicates strong demand for leveraged exposure to TON. Meanwhile, (ETH) has seen weak demand in the perpetual swaps market, underperforming in spot prices, as seen during the recent sell-off.

“Our latest report highlights the resilience of the cryptocurrency derivatives market in the face of macroeconomic uncertainties,” said Cyrus Ip, Chief Innovation Officer. “As we approach critical global events such as the US presidential election, our insights provide valuable guidance for traders navigating this evolving landscape.”

Bybit continues to offer its users cutting-edge tools and insights backed by a commitment to transparency and market integrity. With over 40 million users worldwide, Bybit leads the cryptocurrency industry and offers unparalleled trading experiences across a wide range of digital assets.

#Bybit / #ElArcoCrypto

About BybitBybit is the world's second-largest cryptocurrency exchange platform by trading volume, boasting over 40 million users. Founded in 2018, Bybit offers a professional platform where cryptocurrency investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula One constructors' and drivers' champions – the Oracle (NYSE:) Red Bull Racing Team. For more details about Bybit, please visit Bybit Press. For media inquiries, please contact: [email protected] more information, please visit: Updates, Follow us on: Bybit Communities & Social MediaContactHead of Public RelationsTony AuBy bit[email protected]

This article was originally published on Chainwire