Amid a tumultuous week where a compromised SEC tweet set the crypto markets on a rollercoaster, the unforeseen market reactions culminated in a staggering loss for Bitcoin. As the dust begins to settle, our analysis reveals the undercurrents of trader behavior—some fled the scene, while others stood their ground, strategizing for the long haul. But, amidst this chaos, one cryptocurrency displayed an intriguing divergence.
Ethereum takes the lead over Bitcoin in derivatives trading volume Ethereum takes the lead over Bitcoin in derivatives trading volume
Options traders scale back in Bitcoin market while Ethereum sees rise in open interest following SEC spoof.
3 min read
Updated: Jan. 10, 2024 at 9:48 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,127.51
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Bybit
Bybit is a cryptocurrency derivative trading platform established in March 2018 and registered in the BVI.