Echoes of Bitcoin’s 2021 Record Run Emerge in the Derivatives Market
- Cost of bullish perpetual futures bets are around 2021 levels
- Open interest at top options exchange scales two-year-old peak
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A burst of activity in Bitcoin derivatives has evoked memories of the period in late 2021 when the token surged to an all-time high.
Variables such as the cost of perpetual futures trades and options open interest point to a revival in speculative gusto for Bitcoin, which has more than doubled in price this year in a partial rebound from a 2022 rout.