Bitcoin continues to see a bullish uptrend across the board, with the derivatives market volume witnessing an upturn in fortunes. BTC prices in futures contracts have begun to exceed spot market prices indicating that traders are gaining confidence in the derivatives market.
Bitcoin Derivatives Volume Shows Steep Decline In 2022
Bitcoin witnessed an extended bearish trend in 2022, resulting in a 60% drop in its price and a steep decline in bitcoin futures and options volumes. The collapse of FTX last November further diminished the market sentiments, and there was a significant withdrawal from the derivatives market, accompanied by long liquidations and a strong bearish bias.