Bitcoin dips but options market holds steady

Last week, the crypto market experienced a massive sell-off that sent Bitcoin’s price down to as low as $25,000. The sharp market movement ended several months of unprecedented calmness in the crypto market.

Previous CryptoSlate analysis pinpointed the derivatives market as the primary catalyst for the aggressive sell-off. The futures market saw a significant deleveraging event, resulting in the closure of over $2.5 billion worth of perpetual futures contracts closed out in a single day.