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Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.
Altcoins outperformed BTC this week, with ETH and XRP up over 6%. BTC hit a new all-time high of $118K — $6K above its previous peak on May 22. Short-tenor BTC options remained range-bound in implied volatility between 26% and 35%. Despite strong Solana ecosystem revenue, SOL rose only 2%.
Perpetuals: BTC funding stayed positive throughout its stable price action and new high. TON also saw strong funding, buoyed by news of a UAE Golden Visa from the Ton Foundation, later retracted.
Options: BTC short-tenor options traded at a volatility premium under half of ETH's 7-day options, with open interest and volume skewed toward puts.