{"id":195529,"date":"2023-11-17T19:36:39","date_gmt":"2023-11-17T14:06:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-btc-derivatives-market-show-resemblance-to-2021-bull-run-options-expiry-today-crypto-news\/"},"modified":"2023-11-17T19:36:41","modified_gmt":"2023-11-17T14:06:41","slug":"bitcoin-btc-derivatives-market-show-resemblance-to-2021-bull-run-options-expiry-today-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-btc-derivatives-market-show-resemblance-to-2021-bull-run-options-expiry-today-crypto-news\/","title":{"rendered":"Bitcoin (BTC) Derivatives Market Show Resemblance to 2021 Bull Run, Options Expiry Today &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Bitcoin derivatives market has recorded strong activity recently while resembling closeness to the mega bull run of 2021 when the BTC price touched its all-time high of $69,000.<\/p>\n<p>After reaching $38,000 earlier this week, the BTC price is facing some <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-btc-price-dramatically-slumps-top-analyst-identifies-opportunity\/\">selling pressure<\/a> trading 2% down at $36,400 level. However, bullish bets are ON as long as BTC stays above the crucial support of $36,000.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h3>A Look at Bitcoin Perpetual Futures<\/h3>\n<p>Indicators such as the cost of perpetual futures trades and the increase in options open interest suggest a resurgence in speculative interest in Bitcoin. Bitcoin has experienced a significant price surge this year, more than doubling in value as it rebounds from a challenging 2022.<\/p>\n<p>The renewed attention comes amid expectations of regulatory approval for the first US spot <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/wisdomtree-revises-spot-bitcoin-etf-sec-may-delay-comments-bloomberg-analyst\/\">Bitcoin exchange-traded funds (ETFs)<\/a>. The launch would potentially boost Bitcoin\u2019s accessibility to investors. While the extent of ETF inflows remains uncertain, the prospect of increased demand is motivating riskier trades.<\/p>\n<p>Perpetual futures are a popular form of Bitcoin derivatives with no fixed expiration date. Thus, they are utilized by exchanges to align contracts with the underlying spot price. During bullish periods, the funding rate tends to be positive, indicating that traders anticipating price gains are willing to pay funds to short-speculators as a cost of maintaining their positions.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>The rolling seven-day average funding rate for Bitcoin perpetual futures, measured through November 15, has a very close resemblance to the levels observed in the final quarter of 2021. This was the period when Bitcoin was on a rally towards its peak.<\/p>\n<figure id=\"attachment_164758\" aria-describedby=\"caption-attachment-164758\" style=\"width: 620px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-164758\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/Bitcoin-futures.jpg\" alt=\"\" width=\"620\" height=\"349\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/Bitcoin-futures.jpg 620w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/Bitcoin-futures-300x169.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/Bitcoin-futures-150x84.jpg 150w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><\/noscript><figcaption id=\"caption-attachment-164758\" class=\"wp-caption-text\">Courtesy: CryptoQuant\/<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/echoes-of-bitcoin-s-2021-record-run-emerge-in-the-derivatives-market-1.1999931\">Bloomberg<\/a><\/figcaption><\/figure>\n<h3>Institutional Participation on the Rise<\/h3>\n<p>Traders are looking at Bitcoin futures curves to understand where prices might go. The whole curve, based on contracts from CME Group Inc., has moved up compared to a month ago. Before, the curve went up to almost $32,000 for the farthest contract, but now it goes up to nearly $40,000.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>The total value of Bitcoin futures open interest on CME is now higher than on Binance, the largest crypto exchange.\u00a0On Friday, the value of open interest in Bitcoin futures on CME was $4 billion, while on Binance, it was $3.8 billion, according to Coinglass data.<\/p>\n<p>The increase in CME\u2019s open interest compared to Binance suggests that bigger institutions are getting more involved in using futures to bet on the future price of Bitcoin.<\/p>\n<h3>BTC Options Expiry Hints Bullishness Intact<\/h3>\n<p>A representative from Deribit, the largest crypto options exchange, stated that the total value of outstanding Bitcoin options contracts on the platform reached a new high, hitting about $14.9 billion earlier this week. This surpassed the previous record of $14.4 billion in October 2021, just before Bitcoin reached its peak of nearly $69,000. Open interest refers to contracts that are still active and yet to be settled.<\/p>\n<p>Data from Deribit <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.deribit.com\/industry\/eth-vol-back-in-fashion\/\">indicates<\/a> a prevalence of optimistic options bets on Bitcoin reaching $40,000 and even $45,000 by the end of December. The fact that traders selling these call options are willing to take the opposite side of the bet suggests that $40,000 could become a significant level for Bitcoin\u2019s upward movement.<\/p>\n<p>Friday marks the expiration day for Bitcoin options, with approximately 35,000 contracts set to conclude. The total value for this expiring batch is just below $1.3 billion, as reported by Deribit.<\/p>\n<p><noscript><link rel=\"stylesheet\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/e6730a75a2109792ac9097cf851b17ef.css\" media=\"all\" data-minify=\"1\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.3.2\" type=\"text\/css\" media=\"1\"\/><\/noscript><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/__trashed-10\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/__trashed-10\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><\/noscript><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA164696\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD164696\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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After reaching $38,000 earlier this week, the BTC price is facing some selling pressure trading 2% down at $36,400 level. However, bullish bets are ON as [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":165638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-195529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/195529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=195529"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/195529\/revisions"}],"predecessor-version":[{"id":195530,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/195529\/revisions\/195530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/165638"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=195529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=195529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=195529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}