ChainCatcher News, according to CoinDesk, the crypto market showed signs of stabilization after a sharp selloff on Tuesday, with Bitcoin and Ethereum rebounding from their recent lows, but the derivatives market as a whole remains in a de-risking state. Macroscopically, the U.S. House of Representatives passed a government funding plan to end a partial government shutdown, boosting U.S. stock futures and global risk assets; precious metals also rebounded, with gold rising above $5,000 and silver approaching $90, with a daily increase close to 6%. In the derivatives market, traders continue to reduce risk exposure, and the cumulative notional open interest of global crypto futures contracts has dropped to $105.9 billion, the lowest level since April last year. The 30-day implied volatility of Bitcoin has risen to an annualized 53%, the highest level since December 1st, while the open interest of Bitcoin and Ethereum futures has decreased by 0.7% and 2%, respectively.
BTC and ETH Stage Bottom Rebound Amid Derivatives De-risking Trend
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Summary
The derivatives market saw continued de-risking as BTC and ETH rebounded from recent lows amid broader market stabilization. Open interest for crypto futures fell to $105.9 billion, the lowest since April 2024, with Bitcoin and Ethereum futures shedding 0.7% and 2%, respectively. Meanwhile, the fear and greed index remained elevated, reflecting heightened volatility. Bitcoin’s 30-day implied volatility hit 53% annualized, the highest since December 1. Gold and silver also rose, signaling a shift toward safe-haven assets.
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