Bitcoin Price Recovers and Remains Stable Around $19K

04. Dec 2020 Posted by WorldCoinIndex on Derivatives report

WorldCoinIndex Derivatives Report 2020 Week 49. During this week of this year, bitcoin’s price has rapidly recovered from the negative volatility it faced last week. While the price is not increasing at this time, it did manage to break the previous all-time high, after surpassing a price point of $19,895. Although some news outlets reported a previous ATH of $20,000, bitcoin has traded at this rate on very few exchanges, which is why the common consensus suggests that bitcoin has just reached a new record.

During the last seven days, bitcoin saw a low of $16,500 and a daily volume of approximately $900 million. At press time, the cryptocurrency is trading at $19,075, whereas the total cryptocurrency market cap is currently reported at $565 billion.

ETH is currently trading at $596, XRP at $0.60, LTC at $85.86, EOS at $3.03, Chainlink at $13.55, and BCH at $290.

Weekly derivatives summary analysis

Here’s a quick preview of the main events that have occurred on the cryptocurrency derivatives market.

First off, the crypto derivatives aggregated volume has halved from the previous value of $61.99B last week to $32.38B right now. Such value drops are not a surprise anymore, especially as we’re entering a new month. As usual, the volume will likely increase as December progresses.

Here’s a brief look at trading volumes by derivatives category:

  • The perpetuals trading volume has seen a drop from $577M to $260M.

 

  • The futures trading volume has also decreased to $5.82 from $10.22B

 

  • The options trading volume has dropped from $51.77B last week,  to $26.30B today

 

A quick look into the current open interest rates

At this point in time, the total aggregated open interest volume is situated at $12.52B, a value that’s almost double to last week’s $6.74B.

From a category standpoint, perpetuals report an open interest of $5.41B, followed by $2.82B for futures, and $4.28B for options.

 

Relevant cryptocurrency derivatives news

  • The Financial Sector Conduct Authority (FSCA) has recently declared that crypto assets are financial products
  • Popular derivatives exchange BitMEX names Alexander Hoptner as its new CEO
  • Ethereum option traders showcase increasingly bullish behavior, as the number of call trades has rapidly risen on Deribit