• Bitcoin futures market experiences mixed reception post-FTX crash, impacting price volatility and utility.
• Recent data showed a decline in crypto-margined collateral, improving derivative collateral structure.

Ever since the dramatic FTX crash, Bitcoin [BTC] has been on a rollercoaster ride of price volatility.  This has impacted its utility in the futures market significantly. According to the most recent data, Bitcoin’s reception in the futures market is a bit of a mixed bag. Also, it has made traders’ interaction with it cautious.

Read Bitcoin (BTC) Price Prediction 2023-24

According to recent data, Bitcoin’s reception in the futures market was a bit of a mixed bag. Also, it has made traders cautious.

Bitcoin Futures collateralization decline

Data from Glassnode indicated that there was a cautious approach towards Bitcoin (BTC) in the derivative market. The Bitcoin Percent Futures Open Interest with Crypto-margined metric revealed a notable decline, reaching a historic low.

Analyzing the chart, it became apparent that at its peak, approximately 70% of all Futures Open Interest relied on Crypto-Margin collateral. However, according to the current data, this percentage dwindled to around 26%. 

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Author: Suzuki Shillsalot

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