According to Greeks.live, the current cryptocurrency market shows a significant increase in options trading volumes, particularly in Bitcoin and Ethereum derivatives. This rise is attributed to institutional investors seeking to hedge against market volatility. Greeks.live also highlights an upward trend in open interest for Bitcoin futures, suggesting a potential bullish sentiment among traders. For traders, these metrics indicate a growing interest in risk management strategies, which could influence future price movements and volatility levels.

According to Farside Investors, the Bitcoin futures basis rate has significantly dropped from approximately 10% when Bitcoin was priced over $100k. Currently, the potential earnings on Bitcoin have decreased to around 6%, which does not justify the additional risk when compared to the 4.3% yield offered by US treasuries. As a result, it may not be prudent to open new basis positions, although maintaining existing ones might still be considered.

According to Crypto Rover, Japan's ODEX has applied to become the first exchange in the country to list Bitcoin futures. This move signifies a significant step in Bitcoin adoption within Asia, potentially increasing institutional interest and liquidity in the market. The application is a strategic development that traders should monitor closely, as approval could influence Bitcoin's trading volume and market dynamics in the region.

According to Mihir (@RhythmicAnalyst), Bitcoin Futures on the CME are approaching a significant gap closure. The futures almost touched the gap, suggesting a potential bounce that may target the $93k range. This movement is crucial for traders monitoring Bitcoin's trajectory as it indicates potential bullish momentum if the gap is filled. Source: Mihir's Twitter post.

According to Crypto Rover, the CME Group has initiated its first Bitcoin futures options trades, signaling increased institutional interest and participation from Wall Street. This development provides new trading strategies for investors and is expected to enhance liquidity in the Bitcoin market.

According to @CCData_io, the total derivatives trading volume on CME increased by 23.7% in July, reaching $130 billion. This marks the highest volume on the exchange since March. Specifically, Bitcoin futures rose by 24% to $101 billion, while Ether futures increased by 15% to $20.7 billion.