RATE Group | Bitcoin Options Volume Sets Record as BTC Miners Hit Breakeven Cost
82446
post-template-default,single,single-post,postid-82446,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Options Volume Sets Record as BTC Miners Hit Breakeven Cost

10 Mar Bitcoin Options Volume Sets Record as BTC Miners Hit Breakeven Cost

Posted at 17:55h in Bitcoin News by

[ad_1]

Bitcoin (BTC) derivatives traders were anything but bearish during Monday’s crash, data reveals — options volumes set a giant $200 million all-time high.

According to figures collated by monitoring resource Skew Markets, volatility which saw BTC/USD descend to two-month lows of $7,625 sparked a surge in options trading.

BTC options near $200M daily

Aggregate volume from CME Group and exchanges such as Deribit and OKEx totaled $198 million as the week began. The figure easily eclipses the previous record of around $175 million seen in February.

Bitcoin options volume. Source: Skew

Bitcoin options volume. Source: Skew

Since then, volatility has seen Bitcoin surpass $8,000 before erasing its gains on Tuesday, returning to levels at around $7,800. In traditional markets, the Dow Jones likewise reversed the progress made prior to opening on the day.

$8K critical for miners

Analysts remained highly cautious about the short-term outlook for BTC/USD. The area around $8,000 remained critical, Capriole digital asset manager

[ad_2]

Source link

Tags:
, , , , , , , , ,