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The world’s largest bitcoin options exchange, Deribit, was hacked for close to $28 million, according to an update from the company’s official Twitter account on Nov. 2. Deribit says that…
Mounting concerns about the state of the global economy and traders' risk-off sentiment continue to weigh on Bitcoin price.
Galaxy Digital previously facilitated the launch of Goldman Sachs’ Bitcoin futures trading product for CME Group in June 2021.
Bitcoin’s drop to $42,000 obliterated its open interest and liquidated a large swath of leveraged traders, but analysts say OI resets typically provide great buying opportunities.
Nearly $3 billion in BTC options expire on Nov. 26, and bears are better positioned below $58,000.
The absence of cascading liquidations, 25% delta skew and the margin lending ratio all suggest that Bitcoin price bottomed at $56,500.
Bitcoin price is hitting resistance while trading 7.75% below its all-time high, but derivatives data shows pro traders are still aiming for $80,000 by January.
Bitcoin bulls could be in for a $715 million profit if BTC price is above $60,000 ahead of Friday’s $3.2 billion options expiry.
Bitcoin’s futures premium hit its highest level in 5 months, but was this the primary reason for BTC’s fall below $60,000?
Hash rate, supply shock and U.S. credit risk are likely the causes for the BTC rally.