November 4, 2025 — Leads & Copy —
DUBAI, UAE — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released its latest Bybit x Block Scholes Crypto Derivatives Analytics Report, created in collaboration with Block Scholes. The report analyzes crypto derivatives, macroeconomic influences, and trader sentiment after October’s major market liquidation.
Key findings include that a $6 billion liquidation on October 10, triggered by renewed U.S.–China trade tensions, led to deleveraging across perpetual swap markets. Notional open interest in perpetual contracts has remained stagnant since the liquidation. BTC options open interest has steadily increased, suggesting hedging and speculative strategies, and The DeFi protocol World Liberty Financial (WLF) saw its governance token WLFI rebound 25 percent to $0.15 following an airdrop to early users.
The report concludes that the crypto derivatives market is cautiously regaining stability after significant deleveraging. With macroeconomic headwinds still shaping sentiment, traders are maintaining a defensive outlook as they await clearer market direction.
For media inquiries, please contact: media@bybit.com
