Bybit & Block Scholes Report Highlights Dramatic Sentiment Shift in BTC Options Market Post-ATH Surge

A joint report from Bybit and analytics firm Block Scholes reveals a significant sentiment shift in Bitcoin's derivatives market as the cryptocurrency's price surged past $115,000. The options market experienced a rapid flip in put-call skew, moving from a 2% downside bias to a 5% premium for upside calls within hours of the July 9th breakout. Additionally, perpetual trading volumes on Bybit reached weekly highs of $11.1 billion, accompanied by decisive changes in funding rates. This development underscores the bullish momentum in the crypto market and highlights Bybit's role as a key player in facilitating high-volume derivatives trading.

Bybit & Block Scholes Report: BTC Options Flipped Put-Call Skew After ATH

Bitcoin's derivatives market witnessed a dramatic sentiment shift as its price surged past $115,000, according to a joint report from Bybit and analytics firm Block Scholes. The options market saw put-call skew flip from a 2% downside bias to a 5% premium for upside calls within hours of the July 9th breakout.

Perpetual trading volumes on Bybit soared to $11.1 billion weekly highs as funding rates turned decisively positive across crypto assets. Even a brief 8-hour period of negative BTC funding during Trump's tariff remarks failed to derail momentum ahead of the new all-time high at $112,000.

While Bitcoin's gains appeared measured against its May peak, altcoins like ethereum and XRP outpaced the market leader with 6% rallies. The rapid options repositioning suggests traders anticipate further appreciation despite Bitcoin's already substantial year-to-date advance.

Pump.fun's $500M ICO Marks Resurgence of Token Sales as Crypto Markets Rally

Bitcoin reached a record $121,000 while Ethereum reclaimed $3,000, signaling a robust crypto market recovery. The revival of initial coin offerings gained momentum with Pump.fun's $500 million token sale, which sold out in 12 minutes at a $4 billion fully diluted valuation.

PUMP tokens, initially priced at $0.004, now trade at $0.017 – delivering 325% gains to 10,145 investors. The equitable distribution saw a median investment of $537, with Solana DEXs like Raydium and Jupiter outpacing centralized exchanges in participant count.

While Bybit users faced allocation issues due to technical delays, the event demonstrated the efficiency of modern onchain infrastructure. The ICO revival echoes 2017's peak, though still trails EOS's $4.1 billion record raise.