Bitcoin Choices Each day Quantity Crosses $1 Billion, $100Ok Strike Launched for 2021
The cryptocurrency derivatives markets saw significant demand as the daily volume for bitcoin options exceeded $ 1 billion on December 17, 2020. Most of the record sales were made on the Deribit derivatives platform, and a major strike of $ 100,000 was launched on the exchange for September 2021.
While the spot markets for Bitcoin (BTC) hit an all-time high (ATH) at USD 23,777 per coin this year, there was also a lot going on in the derivatives markets. On Thursday, December 17, 2020, researchers at skew.com tweeted for the first time about the record volume of BTC options of over $ 1 billion.
The total daily volume of $ 1 billion in Bitcoin options came from exchanges such as Deribit, Okex, Bit.com, the CME Group, Ledgerx, Huobi and Bakkt.
“Bitcoin options on the first day $ 1 billion,” Skew tweeted on Thursday. Skew’s chart shows that Deribit leads the record sales, followed by the derivatives markets on Bit.com and Okex.
Deribit’s market update sent to news.Bitcoin.com shows that open interest has also hit an all-time high. Deribit’s BTC options on Thursday were over 223,000 BTC, or $ 5 billion. At the same time, there was $ 291 million in BTC futures and $ 228 million in perpetual swaps.
“We had total revenue of $ 3.5 billion (around the clock) today,” Deribit said Thursday. “We had total sales of $ 1.4 billion today (24/7).
[The exchange] is getting a lot of demand for higher strikes and has just launched a $ 100,000 strike for September ’21.
This means that derivatives traders using Deribit can bet on the options contract for BTC to reach $ 100,000. Deribit has announced that some trades have been executed since the start of the contract on Thursday and the call and put options have an expiration date of September 24, 2021.
A number of contracts also expire on Christmas Day as Deribit says it is “80,000 contracts or $ 1.85 billion expiration for monsters”.
At the same time as the heated action on the derivatives market, skew.com also tweeted about the spot market action that took place on Thursday. “Record spot session yesterday, $ 3 billion + BTCUSD traded on the largest fiat crypto exchanges,” Skew tweeted.
The market researchers also showed a graph on Friday showing an 88% probability that BTC prices will be above $ 20,000 by the end of the year.
What do you think of all of the action in the derivatives markets and $ 1 billion bitcoin daily options on Thursday? Let us know what you think on this matter in the comments section below.
Tags in this story
All-time high, Bakkt, Bit.com, Bitcoin, Bitcoin (BTC), Bitcoin derivatives, Bitcoin options, BTC, call and put options, CME Group, contracts, daily volume, Deribit, derivatives markets, finance, Huobi, LedgerX, Okex , Skew, Skew.com, Spot Markets
Photo credit: Shutterstock, Pixabay, Wiki Commons, Skew.com,
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.