Bitcoin: open interest sets new records
Bitcoin: open interest sets new records

Bitcoin: open interest sets new records

By Federico Izzi - 11 Jun 2020

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Yesterday saw the open interest on Bitcoin options close at the highest levels ever with $1.6 billion. 

This is probably affecting the market and will continue to do so in the coming days and weeks, showing the interest in the tools that are offered by brokers on Bitcoin.

The lion’s share is attributed to Deribit, which yesterday traded just under $1.2 billion for the first time. Since Monday, Deribit has now traded over a billion dollars. 

Even the most institutionalized platform, the CME, has recorded the absolute top ever with 373 million dollars yesterday.

It must be noted that at the end of March the combined volumes on all broker platforms offering this type of market amounted to 75 million dollars

Since the end of March, volumes on Bitcoin options have doubled more than 4 times. Deribit was trading just over $150 million at the end of March, while CME was trading $4 million. Yesterday, the volumes of the CME soared by about 10 times. 

Despite the much smaller offer on Ethereum options (only two brokers offer this product, Deribit and Okex), volumes on Eth’s options also set absolute records with just under $158 million yesterday. 

Deribit seems to be the queen of the options market, not only on Bitcoin, in fact even on Ethereum it has traded over $156 million, more than 99% of the volume.

CME, as the largest trading platform for commodities in the world, has repeatedly pointed out in recent months that it is interested in launching options on Ethereum

It is carrying out studies aimed at launching this type of service alongside what is already available for Bitcoin.

Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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