We’re excited to bring you the weekly updates, insights, and opportunities to enhance your trading experience with Delta Exchange.
WEEKLY SNAPSHOT
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CRYPTO NEWS
- The global crypto market cap is $2.49T on 8th November. The total crypto market volume over the last 24 hours is $128.73B. Bitcoin’s dominance is currently 60.39%, an increase of 0.75% over the day. (Source:CoinMarketCap)
- Bitcoin reached a new all-time high on 6th November, surpassing the $75,000 mark, as Donald Trump secured the necessary 270 electoral votes, setting him up as the USA’s 47th President. Bitcoin broke its previous record of $73,750, signaling a strong, positive reaction from the market.
- On 7th November, Bitcoin’s open interest (OI) hit $45.4 billion, marking a 13.3% increase since November 5, when Bitcoin’s price surpassed its previous all-time high of $73,800 from March. (Source:Coinglass)
- U.S. spot Bitcoin ETFs saw massive inflows, which added a net $621.9 million, according to Farside data. The flow, one of the highest figures since the products’ introduction in January, snapped a three-day streak of outflows. Total net inflows have now reached $24.2 billion. Ether is lagging behind bitcoin’s 2024 performance. Net inflows into ether U.S. spot ETFs totaled $52.3 million, the most since Sept. 27, according to Farside data.
- By 8th November morning, the total liquidation across the network reached $346 million, with long positions accounting for $126 million and short positions totaling $220 million in the last 24 hours. Specifically, Bitcoin liquidations amounted to $110 million, Ethereum liquidations were $86.5 million, and Dogecoin saw $13.75 million in liquidations. (Source:Coinglass)
OPTIONS OI ANALYTICS FOR UPCOMING WEEK
OI Analytics for the upcoming week: BTCUSD
Some activity on the Call side near the spot is evident. Looks like there are some hurdles on the upside for Bitcoin.
OI Analytics for the upcoming week: ETHUSD
Significant Call writing at 2900 level is evident with Put writing at 2700.For Ethereum the OI data is slightly heavier on the bearish side.
DELTA EXCHANGE RESEARCH PERFORMANCE
Performance of trades covered by Delta Research last week:
- On Monday, the strategy was able to book a profit of merely $20 while on Tuesday the Short Strangle strategy was able to deliver $200.
- On Wednesday, because of the higher IV we deployed Ratio Spread which closed at the profit of $310. Thursday being sideways, we were able to clock a profit of $180. Overall the week has been pretty good for Option sellers.
For more such trade research insights, follow the Delta Research Community and Telegram channel.
Disclaimer: This research is only for educational purpose and is not a financial advice.
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Source links for reference:
- https://coinmarketcap.com/
- Cryptocurrency Futures Open Interest, Binance&CME Open Interest, Bitcoin Open Interest | CoinGlass
- Bitcoin hits record high, surpasses $75,000 on Trump’s White House victory - The Economic Times
- Bitcoin (BTC) Registers Fourth-Best Day of 2024 as BlackRock's IBIT ETF Posts Record Volume
- Data: The total liquidation amount across the network in the past 24 hours is 346 million USD, with BTC liquidation amounting to 110 million USD - ChainCatcher
- How Trump Could Change Crypto
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Happy Trading!
Delta Exchange Team