Bybit & Block Scholes Report: BTC Options Flipped Put-Call Skew After ATH
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has released its latest crypto derivatives analytics report with Block Scholes, outlining BTC's solid price action in the previous week with positive movements all around from ETH to altcoins.
Key Insights:
Price Surge Uplifted Option Interest and Funding Rates: Perpetual trading volume on Bybit hit a monthly high at $11.1B by the end of the week after a lackluster July thus far, following BTC's breakthrough to $115k on July 9. Following weeks of fluctuation, overall funding rates for assets, including BTC, turned consistently positive, with BTC suffering only 8 hours of negative funding rates a day before its ATH over Trump's tariff remarks.
BTC Options Reversed Course: BTC's options market sentiment underwent a dramatic reversal at the price surge on July 9th, with put-call skew flipping from a 2% premium favoring downside protection to a 5% premium on upside calls, indicating traders are increasingly positioning for further BTC price appreciation despite the asset's already substantial gains.
Source: Bybit and Block Scholes
Altcoins Outperformed BTC: Notably, altcoins demonstrated competitive gains against BTC, with ETH and XRP each surging over 6% compared to BTC's relatively modest gains to its new ATH of $112K—just $29 above the May peak. While BTC options maintained rangebound implied volatility between 26-35%, the altcoin rally highlighted shifting market dynamics, though SOL lagged with only a 2% weekly gain despite strong ecosystem fundamentals, including record-breaking Q2 revenue of $271M that outpaced all other Layer 1 and Layer 2 networks.
For detailed insights, readers may download the full report.
#Bybit / #TheCryptoArk / #BybitLearn
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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