Earlier today, Bitcoin (BTC) futures open interest on the Deribit cryptocurrency derivatives trading platform has surged above 100,000 Bitcoins (BTC).
As reported by the Skew analytical group, which focuses on Bitcoin (BTC) and Ethereum (ETH) derivatives trading, the open interest volume on the Deribit platform has printed another record.
The total volume of open positions exceeds $1 billion as of May 20, 2020.
Prominent cryptocurrency investor and analyst Charles Edwards of Capriole Investments celebrated this upsurge with only one word:
Members of the crypto community believe that we should keep our eyes on the Bitcoin (BTC) price dynamics at 08:00 AM GMT on Friday when many of these options will be expiring.
It is the realm of cryptocurrency derivatives trading where the most interesting news in the crypto sector has come from this spring.
For instance, the Black Thursday carnage was followed by breathtaking liquidations on the BitMEX exchange.
It was the first time liquidation volume exceeded the billion-dollar level.
Also, the Bitcoin (BTC) options trading volume on the Chicago Mercantile Exchange has spiked 900% in one month since mid-April, 2020.