PANews reported on September 30th that BlackRock's iShares Bitcoin Trust has surpassed Coinbase's Deribit to become the largest trading venue for Bitcoin options. Following last Friday's contract expiration, open interest in options related to the Nasdaq-listed IBIT reached nearly $38 billion, compared to $32 billion on Deribit. Founded in 2016, Deribit has dominated the Bitcoin options market for years. This highlights a structural shift in the crypto market, from a hub for leveraged derivatives trading to a regulated core of the U.S. financial system. IBIT currently manages $84 billion in assets, making it the world's largest Bitcoin ETF. The rapid growth of its options business is creating a virtuous cycle: increased liquidity enhances its legitimacy, which in turn attracts further capital inflows.

Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
