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Bitcoin and Ether: cryptocurrency derivative sentiment on the rise
Market Outlook

Bitcoin and Ether: cryptocurrency derivative sentiment on the rise

Retail investors took advantage of the 24/5 access to the securitised derivatives via Spectrum on those two cryptocurriencies.
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17 JUL, 2023

By RankiaPro Europe


Spectrum Markets (“Spectrum”), the pan-European trading venue for securitized derivatives, has published its SERIX sentiment data for European retail investors for June, revealing retail investor sentiment towards cryptocurrencies Bitcoin and Ether have risen consistently since the index hit its lowest point in January 2023. 

The SERIX value indicates retail investor sentiment, with a number above 100 marking bullish sentiment, and a number below 100 indicating bearish sentiment.

The SERIX sentiment index for Bitcoin hit 110 points in June, the highest level since the start of this year. This bullish sentiment from European retail investors can also be seen in improving sentiment towards Ether, which reached 113 in June. 

In recent months the price of Bitcoin has risen from around 16,000 US Dollars, in January, to over 30,000 US Dollars in June, whereas Ether’s price rose from roughly 1,200 US Dollars to above 1,900 US Dollars in the same period. 

Using the securitized derivatives listed on Spectrum, retail investors can take long or short exposure on the two cryptocurrencies, the relevant instruments being tradable 24/5, giving them additional tools to hedge exposure and manage risk. Trading these products in a regulated trading venue offers transparency and investor protection a.

In June 2023, 102.5 million securitized derivatives were traded on Spectrum, with 34.1% of trades taking place outside of traditional hours (i.e., between 17:30 and 9:00 CET).

84.1% of the traded derivatives were on indices, 10.5% on currency pairs, 3.4% on commodities, 1.7% on equities, and 0.3% on cryptocurrencies, with the top three traded underlying markets being DAX 40 (31.5%), NASDAQ 100 (19.5%), and S&P 500 (18.7%).

Looking at the SERIX data for the top three underlying markets, the DAX 40 and the NASDAQ 100 both remained bearish at 97, and the S&P 500 fell from an already bearish 98 to a low sentiment of 88.

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