DUBAI, UAE, November 14, 2025 /PRNewswire/ — BiteThe world’s second largest cryptocurrency exchange by trading volume, has released its latest version Bybit x Block Scholes Crypto Derivatives Analytics Reportin collaboration with Block Scholes. The report provides an in-depth look at the crypto derivatives data and market sentiment that appeared to foreshadow Bitcoin’s decline to more than 20% below record levels.
Main highlights:
- Perpetuals: Funding rates in the major cryptocurrencies are showing mixed sentiment, while rates for altcos are bearish. Open rates on large-cap perpetual swaps have fallen to nearly half of previous levels since early October, indicating reluctance to reopen long positions.
- Options: Volatility expectations remain high, with a strong trend towards bearish put contracts. Activity in options markets has declined compared to October, underscoring the cautious short-term outlook among traders.
The report notes that despite a strong recovery in US stock markets following the end of the 43-day government shutdown, crypto assets struggled to regain lost ground. Spot markets have encountered resistance in every recovery attempt, indicating continued bearishness among investors. Elevated implied volatility levels further highlight the market’s hesitation to price in continued optimism.
In derivatives markets, the decline in open interest on large perpetual swaps reflects traders’ continued caution. October’s downturn, which led to one of the largest liquidation events in recent crypto history, left investors wary of re-entering long positions. Meanwhile, options data shows that bearish sentiment continues to dominate the short-term outlook as protective puts command higher premiums and overall trading volumes decline.
Such positioning within the broader crypto complex left crucial price support vulnerable, ultimately paving the way for Bitcoin’s decline to a six-month low today.
The full analysis is available in the Bybit x Block Scholes Crypto Derivatives Analytics Report.
#Bybit / #CryptoArk /#BybitResearch / #BybitLearn
About Bybit
Bybit is the second largest cryptocurrency exchange in the world by trading volume, serving a global community of more than 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit strategically partners with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Known for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, allowing builders, makers, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more information about Bybit, please visit Bybit Press
For media inquiries please contact: [email protected]
For updates, follow: Bybit’s communities and social media
Disagreement
| Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YouTube
#Bybit #Block #Scholes #Report #Crypto #Positioning #Bitcoin #Bear #Market #Forewarned #Bitcoin