Crypto exchange Bybit, in its latest crypto derivatives report, noted diverse trends in Bitcoin and Ethereum options, drawing traders' attention to potential market shifts.
Derivatives Market Analysis
According to Bybit's latest report, Bitcoin's open interest began rebalancing after December's option expirations, while Ethereum saw increased demand for call options. These divergences between implied and realized volatility suggest that traders are preparing for potential market disruptions despite the current calm. Implied volatility for Bitcoin remains at 57% for one week, indicating heightened risk expectations.
Macroeconomic Factors and Their Influence
Bybit's analysis also pointed out that Bitcoin's retreat from the $100,000 milestone might be driven by growing macroeconomic uncertainty and shifting investor sentiment ahead of Donald Trump's inauguration on January 21. Broader economic factors have impacted risk assets, including cryptocurrencies, prompting traders to adopt a cautious approach. The report reveals a slowdown in the perpetual swap market during December 2024, as holiday trading volumes declined and realized volatility dropped.
Xterio Project on Launchpad Platform
Bybit recently announced the launch of the Xterio (XTER) project on its Launchpad platform. Xterio is an AI-powered blockchain gaming platform built on the Layer 2 OP Superchain. The project has secured over $80 million in funding from investors like Binance Labs and Makers Fund. Bybit is offering early access to Xterio through its Launchpad, with 7.5 million XTER tokens available as rewards.
Bybit's report indicates that amidst the calm market, divergent trends in Bitcoin and Ethereum options may signal future changes in the cryptocurrency markets.
