Cryptocurrency Market Stability Post-Bybit Hack

Stability in Bitcoin and Ether Markets

In the aftermath of a significant event in the cryptocurrency space, Bitcoin and Ether have maintained their stability. Despite the recent $1.5 billion hack involving Bybit, a major exchange, the values of these leading digital currencies continue to fluctuate within their established ranges.

Market Indicators and Trading Behavior

Current market signals reveal a certain sentiment in trading patterns. Perpetual funding rates hint at a preference for long positions, where traders stand to gain from ascending prices. Furthermore, Bitcoin options on Deribit reflect optimism, showing a clear preference for call options spanning various durations.

Ether Options Unfazed by Exchange Incident

The outlook on ether options, however, differs notably. Despite the fallout from the hack, a bearish tendency towards ether options persists, especially as we look towards March. It's important to note that this inclination predates the Bybit incident.