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20.11 - 10:01
Assessing Bitcoin’s spot and options markets, vis-à-vis its short-term price trajectory
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A larger bullish narrative has dominated the Bitcoin markets lately. The ETF approval, as well as billionaires and politicians being bullish on BTC, paid off really well.
Meanwhile, the king coin’s sideways action during the last week has been off-putting. As the spot market took a backseat, attention shifted towards BTC options and the futures market.
In spite of the sideways movement, one thing that was noticeable over the past week was that Bitcoin futures ETFs were making things simpler. Since the ETFs need to buy futures contracts on the CME, it resulted in a rise of open interest.
Indicating, there was a larger premium of the futures over spot BTC and notably bigger spreads. However, total BTC options Open Interest(OI) and Options
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