2023-8-28 19:00 |
Quick Take
A significant shift in the Bitcoin derivatives market has been observed, with Bitcoin Options Open Interest (OOI) surpassing Futures Open Interest (FOI) for the first time in the quarter.
This shift, marked by an OOI of 395k BTC and an FOI of 393k BTC, occurred last Thursday, coinciding with a substantial market dip.
On the same day, Bitcoin experienced its worst daily performance since the FTX collapse, recording a 7.2% drop, illustrating the high volatility and uncertainty that continue to characterize the cryptocurrency market.
This unusual diversion between Bitcoin options and futures open interest may signal changing investor sentiment and strategies, as participants in the options market are potentially betting on or hedging against future price movements.
Nevertheless, it is crucial to scrutinize these shifts within the broader context of market volatility and the evolving regulatory landscape to grasp their potential implications fully.
OOI: (Source: Glassnode)The post Amid volatility, Bitcoin options open interest leapt over futures appeared first on CryptoSlate.
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