• Traders are taking advantage of the crypto-futures market, with Bitcoin and Ethereum being the most popular digital assets.
• Open Interest for BTC Futures contracts is at an all-time high on various exchanges.
• Liquidations of these positions have started to decline, suggesting traders are managing their positions better and avoiding losses.
Crypto-Futures Market
The crypto-market has evolved into a dynamic landscape with various trading opportunities. One area that has gained significant traction is the Crypto Futures and derivatives market. With cryptocurrencies like Bitcoin and Ethereum taking center stage, investors and traders are delving into Futures contracts tied to these digital assets in pursuit of potential profits.
BTC Options Trading
According to Glassnode’s data, the Open interest for BTC Futures contracts hit a one-month high on the Huobi exchange. Furthermore, data provided by TheBlock suggested that Open Interest across the majority of exchanges in Bitcoin had surged. At press time, a total of $8.72 billion BTC Options were being traded on various exchanges.
Liquidations Fall
In terms of liquidations of these positions, it was observed that the number of liquidations for BTC Options had started to decline over the last few days. Lower exchange liquidations can also be seen as a positive sign for market participants as it suggests that traders are better managing their positions and avoiding significant losses.
ETH Trading
Traders‘ interest in ETH wasn’t limited to just Bitcoin options either; open interest across Ethereum markets was also rising steadily on multiple exchanges such as Coinbase Pro and OKEx.
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Conclusion
The increased open interest across both Bitcoin and Ethereum markets suggest strong participation from traders who believe bullish momentum will continue in both cryptos in the near future. However, it remains to be seen if this increased activity will result in future profits or losses for investors.