BTC Options Tilt Bearish Ahead of Friday’s Expiry: Crypto Daybook Americas
By James Van Straten (All times ET unless indicated otherwise)
September has started much like August ended, with low volumes, subdued volatility, and most of the market-moving headlines coming from traditional finance.
Gold rose to $3,560 before easing back, while government bond yields globally retreated from recent highs.
Bitcoin perpetual funding rates, payments designed to keep perpetual futures contracts close to the spot price, have cooled and are now around 6% after hitting double-digit levels earlier. Open interest, meantime, continues to drop, with just over 720,000 contracts outstanding, denominated in BTC.
As for publicly listed bitcoin treasury companies, their multiples to net asset value (mNAV) are also extending…
