In recent months, the Bitcoin derivatives market has been in high demand. At the same time, the Bitcoin spot market has climbed to a record high, which has soared by 149% in the past three months. Just recently, the leading Bitcoin options exchange Derbit announced the launch of strikes of US$120,000 and US$140,000, and data from skew.com shows that certain futures in June will be exchanged for US$30,000.
Due to the surge in demand for various trading platforms this year, crypto derivatives have been very hot in 2020. At the end of November, CME Group surpassed its competitors to become the world’s largest bitcoin futures provider that month.
In mid-December, news.Bitcoin.com reported a large number of transactions on Deribit, the leading Bitcoin options exchange. Bitcoin’s daily options trading volume exceeds $1 billion, and Deribit launched a $100,000 option strike in September.
Then on December 26, 2020, Derbit tweeted about adding two other large options to exercise. “We added a BTC 120K strike. We hope to add another 140K tomorrow,” Deribit Said. The exchange added: “Our introduction policy will increase the interest rate hike to 10 points.” After that tweet, Deribit announced an increase in the strike price of $140,000. “That’s too fast,” Deribit Announce. “We just added a $140,000 strike to BTC.”
In fact, Bitcoin options trading has grown rapidly in the past twelve months. Derivatives market analysis provider skew.com recently stated: “Bitcoin options have grown rapidly this year, and the total amount of open positions will exceed US$10 billion in 2021.” Tweet.
Data from skew.com shows that Derbit commands are open to most BTC aggregation options. Followed by open positions from exchanges such as Okex, Bybit, CME Group and Ledgerx.
In terms of the total daily trading volume of Bitcoin futures, Binance and Huobi accounted for the highest trading volume today. After these two largest futures trading platforms are derivatives exchanges Bybit, Bitflyer, Okex, Bitmex and FTX.
At the same time, the spot price of Bitcoin (BTC) fluctuated sharply during Sunday afternoon trading hours (EST) to $27,800, and fell to $26,521 on the same day.
In addition, skew.com said on Twitter that some futures are already in the $30,000 area. “Some June futures [are] Researchers have already traded more than $30,000” Tweet.
What do you think of the recent Bitcoin derivatives market trend? Let us know your thoughts on this topic in the comments section below.
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