Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released its latest Crypto Derivatives Analytics Report , produced in collaboration with Block Scholes, on Tuesday, November 0 report gives a comprehensive analysis of crypto derivatives , macroeconomic outlook, and trader sentiment following the $6 billion liquidation on October 10. Sources: Bybit, Block Scholes The liquidation, triggered by renewed U. S.–China trade tensions, prompted widespread deleveraging in perpetual swap 1 conditions briefly improved after a subsequent trade deal, any brief optimism was overshadowed by Federal Reserve Chair Jerome Powell’s hawkish remarks during the FOMC press 2 trader sentiment uncertain, Bitcoin ( BTC ) sank to $107,000 and short-term put-call skews turned 3 open interest stagnates as volatility persists According to the report, notional open interest in perpetual contracts remains below $10 billion, showing little sign of recovery since the 4 record highs in the 5 market, BTC is struggling to break out of the narrow $105,000–$115,000 6 activity has increased, however, suggesting sustained hedging 7 at-the-money implied volatility and steady interest in short-term puts point to traders maintaining defensive exposure rather than 8 token rebounds but market sentiment mixed World Liberty Financial (WLF), a decentralized finance ( DeFi ) platform backed by President Donald Trump and his family, saw its governance token WLFI climb 25% to $0.15 following an 8.4 million WLFI airdrop to early users.
However, unstable perpetual funding rates indicate uncertainty remains around the token’s long-term price action. Sources: Bybit, Block Scholes Ultimately, the report suggests the derivatives market is slowly finding its footing after a period of heavy 9 traders remain cautious, holding off on aggressive positioning as they wait for clearer signals on monetary policy and geopolitical 10 image via Shutterstock.
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