Rising Bitcoin and Ether derivatives markets are shooting for the spot
The impact of crypto derivatives on the spot market deepens as CME lists Ether futures on its platform. The crypto derivatives market is dominated by Bitcoin (BTC) and Ether (ETH), with the main platforms being Huobi, Chicago Mercantile Exchange, OKEx, Bybit and Deribit. The CME has also dipped in the Ether pool by launching its Ether futures on Feb. 8, which amounted to $30 million notional volumes on the first day.Prior to this launch, there was a huge $1-billion options expiry on Feb. 5, which lead to bulls targeting the $40,000 price range, according to the underlying options data. But....
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Cboe is acquiring Erisx to enter the crypto spot and derivatives markets. “With Erisx, in a single step, Cboe is able to enter the digital asset spot, data, derivatives, and clearing ecosystem. Now is the right time to fully embrace and help define this emerging asset class,” said Cboe’s chief operating officer. Cboe Entering Crypto Spot and Derivatives Markets Cboe Global Markets Inc. (Cboe: CBOE) announced Wednesday that it has agreed to acquire Eris Digital Holdings LLC (Erisx). Erisx’s futures exchange and clearing house are regulated by the Commodity....
Micro Ether futures join crypto derivatives products including micro Bitcoin futures, Bitcoin futures, options on Bitcoin futures and Ether futures at the exchange. Major derivatives marketplace Chicago Mercantile Exchange Group has expanded its crypto offerings to include a micro Ether futures product.In a Monday announcement, the CME Group said it had launched a micro Ether (ETH) futures contract sized at 0.1 ETH, giving institutional and individual traders another product for Ether exposure. The cash-settled micro ETH derivatives offering is trading under the Globex code METZ1 and joins....
BTC traders are still searching for a bottom, but derivatives metrics show sentiment is negative and even the rally to $40,000 had little impact. Bitcoin (BTC) might have tested the $40,000 support in mid-July, but according to various derivatives metrics, there has not been a significant change in investor optimism. This situation either means that price is not what they are looking to mark the end of the current bear market, or that most traders are still underwater at $40,000.One of the best measures of optimism is the futures market premium, which measures the gap between longer-term....
The Ether futures premium remains negative, while options markets are pricing similar risks for bulls and bears. Traders’ sentiment about Ether (ETH) has noticeably improved as the price rallied 7.5% from Oct. 2 to Oct. 6, but the price recapturing the $1,350 level was not compelling enough to trigger any bullish activity from derivatives traders.Ether price is still 32% below the $2,000 level last seen on Aug. 14 and the network’s average transaction fee stood near $2 after the Merge.The most significant upgrade on the Ethereum chain happened on Sept. 15, switching from energy-intensive....
The largest-ever Bitcoin options expiry of $6 billion nearly doubles the previous record. The biggest-ever Bitcoin options expiry is due on March 26. Over $6 billion worth of Bitcoin (BTC) options will expire across exchanges on Friday, with a majority of these options being on Deribit. This will be a record expiry in terms of the value and number of options — a total of 100,400 Bitcoin options will expire. The previous record was set in January when nearly $4 billion worth of options expired, representing 36% of the open interest at the time.The enormous upcoming expiry comes on the back....