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DUBAI, UAE, Nov. 8, 2024 /PRNewswire/ — Bybit, 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.
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/
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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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