The latest Bybit derivatives report highlights key current market trends, including the achievements of Bitcoin and Ethereum amidst changes in institutional support and market volatility.
BTC's Market Achievements
Bitcoin recently reached a record level of $123,000, driven by strong demand in the derivatives segment. Options contracts showed positive momentum, contributing to price growth. However, after hitting peak values, BTC has returned to $118,000 as traders began to take profits.
SOL's Position Among Other L1s
Despite positive signals of support from institutional investors, SOL has experienced lesser growth compared to other Layer 1 blockchains. Over the past week, SOL rose by 9%, while SUI and ETH showcased double-digit growth. The SOL Staking ETF, launched on July 2, has seen steady investments except for one day of outflows.
ETH's Growth and Market Impact
Ethereum reached a significant mark of $3,150, reclaiming a key level of $3,000 for the first time since February 2025. Over the week, implied volatility of ETH options saw considerable increases, and derivatives markets exhibit a strong buyer sentiment with a positive skew towards call options.
These insights underline the current state of the cryptocurrency market, with a clear focus on the solid achievements of Bitcoin and Ethereum, while SOL continues to find its place among other blockchains.
