Glassnode data shows that offshore Bitcoin futures trading volume has plummeted by 97% from its 2021 peak.
Glassnode data shows offshore Bitcoin futures trading volume has plummeted 97% from its 2021 peak, as traders shift to perpetual contracts and options. Analysis indicates that perpetual contracts have become the preferred instrument for leveraged directional bets, while options have taken on functions such as hedging, volatility management, and downside protection, thereby squeezing the traditional fixed-term futures market.
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