Recently, Bybit published a new report on crypto derivatives that analyzes the current challenges in the financial markets amid a trade war.
Impact of Tariffs on Bitcoin Interest
The Bybit report demonstrates relative stability following the global event "Liberation Day," but notes that BTC and ETH experienced sharp declines from March highs. Tariffs imposed by the Trump administration have negatively impacted cryptocurrencies.
Short-Term Funding Trends
The report's data showed a brief positive trend in funding on the Bybit platform, which then declined as traders sensed uncertainty in economic and trade policies. BTC's perpetual swap market showed a lack of clear directional signals.
Stability of Open Interest
Following Trump's initial "declaration of war" on tariffs, BTC dropped to $75K, triggering a shift in defensive options strategies. Traders actively began using put options for protection, while volatility remains high despite some market correction.
The report highlights current challenges for the cryptocurrency market in light of external economic factors. The stability of open interest and volatility remain key indicators for traders.
