# Сопутствующие статьи по теме Derivatives

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Derivatives", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Bitcoin price discovery has shifted decisively to derivatives markets

Based on a CoinGlass report, Bitcoin's price discovery has decisively shifted from spot trading to derivatives markets. Futures, perpetual swaps, and options now account for the majority of trading activity, with their volume consistently exceeding spot volume. Consequently, short-term price direction is increasingly determined by leverage, positioning, and hedging behavior rather than direct buying or selling of Bitcoin. This represents a structural shift from earlier cycles, making the market's behavior more akin to traditional macro assets. While this can lead to calmer surface-level price action, it masks underlying risks, increasing the potential for abrupt, volatility spikes triggered by funding stress or liquidation cascades. For participants, monitoring derivatives metrics has become more critical than tracking spot flows alone.

ambcrypto12/25 17:02

Bitcoin price discovery has shifted decisively to derivatives markets

ambcrypto12/25 17:02

Midnight – Is NIGHT’s pullback just a pause amid 12% OI drop?

Midnight (NIGHT), a zero-knowledge privacy blockchain, is experiencing a shift in market dynamics. Over a 24-hour period, trading volume dropped 50% to $3.97 billion, and Open Interest (OI) in derivatives fell 12%, indicating $12.7 million exiting the market. This suggests short-term bearish pressure, further supported by a negative funding rate showing more short positions than longs. However, the spot market tells a different story. Investors remain bullish, with $301 million in spot purchases over five days, including a single-day buy of $3.24 million. This strong accumulation is tightening the token supply. The Accumulation/Distribution (A/D) indicator remains positive, confirming ongoing buying interest. Analysis of the liquidation heatmap points to a bullish outcome, with liquidity clusters above the current price acting as a magnet for upward movement and limited downside risk. The data suggests the recent pullback is a temporary pause rather than a reversal, setting the stage for a potential upward trend if current sentiment holds.

ambcrypto12/24 04:26

Midnight – Is NIGHT’s pullback just a pause amid 12% OI drop?

ambcrypto12/24 04:26

JPMorgan’s Bitcoin Move: How Institutions Are Moving Further Into BTC

JPMorgan Chase is exploring ways to deepen its exposure to Bitcoin and other digital assets by potentially offering cryptocurrency trading services to institutional clients. The internal review includes possible spot trading and derivatives linked to digital assets, though any rollout depends on client demand, risk assessments, and regulatory feasibility. This marks a significant shift for the firm, whose CEO Jamie Dimon has historically been a vocal Bitcoin critic. The move aligns with a more accommodating US regulatory environment under the Trump administration, including clearer guidelines for banks in crypto activities and appointments of officials seen as pro-crypto.

bitcoinist12/23 23:01

JPMorgan’s Bitcoin Move: How Institutions Are Moving Further Into BTC

bitcoinist12/23 23:01

From FTX fallout to fresh capital: Former US chief raises $35M for new exchange

Brett Harrison, former president of FTX US, has raised $35 million for his new derivatives exchange, Architect Financial Technologies. The platform targets institutional traders with services spanning derivatives, equities, futures, and digital assets. This follows a previous $12 million funding round in 2024. Architect recently received regulatory approval in Bermuda to offer perpetual futures tied to traditional assets like stocks and commodities. The company plans to expand into Europe and Asia-Pacific. The funding highlights continued venture interest in crypto-linked derivatives, which dominate crypto trading volume but also contribute to market volatility, as seen in recent large liquidation events.

cointelegraph12/23 21:37

From FTX fallout to fresh capital: Former US chief raises $35M for new exchange

cointelegraph12/23 21:37

From Options Derivatives to Prediction Markets: A Quick Look at Coinbase's 2025 Crypto Acquisition Blueprint

Coinbase has significantly expanded its ecosystem in 2025 through a series of strategic acquisitions, aiming to build an "Everything Exchange." Key acquisitions include: - **Roam** (on-chain browser/search engine) - **Spindl** (on-chain advertising platform) - **Iron Fish** team (privacy layer, team-only acquisition) - **Deribit** ($2.9B, major derivatives platform) - **Liquifi** (token management) - **Opyn** team (DeFi options, talent acquisition) - **Sensible** founders (yield platform, later shut down) - **Echo** ($375M, launchpad platform by Cobie) - **Vector.fun** (Solana DEX, to enhance cross-chain trading) - **The Clearing Company** (prediction markets) Most deals were undisclosed talent/team acquisitions, focusing on integrating expertise rather than tokens or legacy systems. The strategy emphasizes consolidating services—spanning spot, derivatives, DeFi, privacy, and prediction markets—into a unified platform. This aligns with CEO Brian Armstrong's vision of a one-stop "Exchange Everything" model, strengthening Coinbase's competitive position against rivals like Binance and OKX.

Odaily星球日报12/23 10:19

From Options Derivatives to Prediction Markets: A Quick Look at Coinbase's 2025 Crypto Acquisition Blueprint

Odaily星球日报12/23 10:19

Why Is the Change in Bitcoin ETF Funds Not Enough to Judge Market Trends?

The Bitcoin ETF market is currently characterized by technical adjustments rather than a long-term exodus, despite some alarming headlines. While the market faces cyclical pressures, including significant unrealized losses and miner capitulation, ETF data does not indicate a collapse. A modest 2.5% outflow in Bitcoin-denominated assets under management aligns with reduced open interest in CME futures and IBIT options, suggesting structured unwinding of basis or volatility trades rather than a loss of confidence. Daily net movements have been volatile but lack the consistency of a sustained sell-off. Concurrent price fluctuations further indicate that ETF flows are not the primary market driver. The reduction in CME open interest and a balanced distribution of risk across exchanges point to a market reallocating exposure, not panicking. Key support lies at $82K (true market mean/ETF cost), $74.5K (Strategy’s cost basis), and the critical $70K level. A breach of $70K could trigger a broader bear market. Current thin liquidity may amplify flow impacts. The critical distinction is between technical outflows (synchronized with falling open interest) and genuine flight (sustained outflows with steady/open interest). The current trend suggests market "contraction" not "collapse," with focus needed on hedging activity, key level holds, and order book depth.

marsbit12/23 09:06

Why Is the Change in Bitcoin ETF Funds Not Enough to Judge Market Trends?

marsbit12/23 09:06

Honeypot Finance: The New Full-Stack Perp DEX – Can It Challenge Hyperliquid?

Honeypot Finance, a new full-stack perpetual DEX, is emerging as a potential challenger to established players like Hyperliquid. With a $35M valuation and backing from investors like Mask Network, it aims to reshape the Perp DEX landscape through a unique hybrid model combining order book efficiency with AMM resilience. Unlike traditional models, Honeypot integrates an order book (via Orderly Network) for low-slip execution during normal conditions and a proprietary AMM that activates during high volatility, ensuring continuous tradability. It also introduces a structured risk management system featuring layered vaults—allowing conservative capital to enter "Priority Vaults" for safer yields, while risk-tolerant users opt for "Secondary Vaults" for higher returns. The platform employs a multi-stage liquidation process to minimize unfair liquidations and avoid automatic deleveraging (ADL) unless absolutely necessary. The ecosystem is supported by a closed-loop tokenomics model. The $HPOT token (500M fixed supply) benefits from protocol fee buybacks and burns, tying its value to real revenue. HoneyGenesis NFTs act as yield-weight amplifiers, rewarding long-term stakers or offering permanent boost options when burned. Having already facilitated over $120M in total trading volume ($20M in perpetuals), Honeypot aims to create a synergistic system—from meme launchpad (Pot2Pump) to derivatives trading—that captures and sustains value through actual usage rather than inflationary incentives. Its success hinges on attracting sustained liquidity, proving its risk infrastructure under stress, and validating its full-stack integration approach.

marsbit12/23 09:03

Honeypot Finance: The New Full-Stack Perp DEX – Can It Challenge Hyperliquid?

marsbit12/23 09:03

Institutional Crypto Trading On JPMorgan’s Radar, Report Suggests

Amid a shifting US regulatory landscape under President Trump's return, JPMorgan is reportedly exploring cryptocurrency trading services for institutional clients. Despite CEO Jamie Dimon's past skepticism toward Bitcoin, the bank's markets division is evaluating potential spot and derivatives offerings in response to growing client demand. The move aligns with recent regulatory developments, including the OCC's guidance allowing national banks to facilitate crypto transactions and the passage of the first stablecoin bill. JPMorgan has already engaged in blockchain innovation, recently facilitating a bond issuance on Solana. Bitcoin traded near $89,500, still below its yearly high of approximately $126,000.

bitcoinist12/23 06:08

Institutional Crypto Trading On JPMorgan’s Radar, Report Suggests

bitcoinist12/23 06:08

Bitcoin Futures Structure Favors Bulls as Short Liquidations Accelerate

Bitcoin is attempting to reclaim the $90,000 level as market structure signals suggest a tactical upside. According to analyst Axel Adler, Bitcoin’s Regime Score has entered the +15 to +30 range, historically associated with positive returns, indicating an early recovery phase. Simultaneously, derivatives data show a dominance of short liquidations, creating mechanical buying pressure that supports upward movement. The current Regime Score of +16.3 suggests a favorable risk-reward setup, with backtested 30-day returns averaging +3.8% in this zone. While moving into a full bull regime above +30 has often led to local tops, the current neutral-positive transition and prevailing short liquidations indicate improving market structure and potential near-term gains.

bitcoinist12/23 04:02

Bitcoin Futures Structure Favors Bulls as Short Liquidations Accelerate

bitcoinist12/23 04:02

Bitcoin perpetual open interest rises as traders bet on year-end rally

Bitcoin perpetual open interest has risen from 304,000 to 310,000 BTC as its price briefly reached $90,000, signaling increased trader anticipation of a year-end rally. The funding rate also climbed from 0.04% to 0.09%, indicating growing bullish sentiment and leveraged long positioning. However, high funding rates may also suggest market overheating and potential correction risks. Bitcoin retreated to $88,200 after failing to hold above $90,000. A major year-end options expiry event on Dec. 26, with over $23 billion in contracts, could amplify volatility. Calls are concentrated at $100,000 and $120,000 strikes, while puts cluster around $85,000, with a put/call ratio of 0.37 reflecting dominant bullish bets. The max pain price is $96,000, suggesting many optimistic calls may expire worthless if prices don't rise.

cointelegraph12/23 03:37

Bitcoin perpetual open interest rises as traders bet on year-end rally

cointelegraph12/23 03:37

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