Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

Since hitting a local bottom on Mar 11, 2025, crypto asset prices have experienced a two-week rise, following a recovery above $87K for BTC and $2K for ETH. XRP remains stable, but BTC and ETH are still below their levels from the start of the year. SOL is also down for the year, despite reaching an all-time high (ATH) in January 2025 that coincided with the 

. While derivatives markets aren't bullish yet, they've reversed much of the bearish sentiment, although demand persists for puts on BTC and ETH.

Please check out the report’s highlights.

For most of this past week, perpetual open interest remained flat, reflecting a cautious risk-off sentiment across asset classes. This changed briefly with a partial spot recovery that allowed BTC to reach $88K (a two-week high), which led to slight increases in perp open interest and trade volume primarily driven by BTC. However, trade volumes are still significantly lower than at the start of the month when US president Donald Trump proposed a crypto strategic reserve for the big four tokens.

Negative funding rates point to bearish sentiment

Despite a week of lower realized volatility and positive performance among major crypto assets, funding rates for BTC and ETH contracts have remained mostly negative, indicating that short positions are paying long positions. This reflects a bearish sentiment not present in large-cap altcoins, whose funding rates have fluctuated between positive and negative without a clear directional trend.

Implied volatility levels have dropped by 3–5 points from last week, with 30-day options trading at their lowest level since the year's start. Realized volatility is nearing the 30% low established in late February. As is typical during periods of low volatility, options market activity has decreased, with open interest remaining low and balanced between puts and calls despite about $40M in weekly expirations.

Advanced

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Bybit X Block Scholes crypto derivatives analytics report (Mar 27, 2025): Cautious sentiment prevails despite price recovery

Learn about Mubarak (MUBARAK), the BNB Chain meme coin fueled by community hype and speculation over potential listings.

Mubarak (MUBARAK) is a community-driven meme coin on 

 that’s quickly gaining popularity, due to strategic community engagement and cultural branding targeted toward Middle Eastern investors. This guide explores Mubarak’s unique features, tokenomics, recent market performance and trading options.

Mubarak (MUBARAK) is a community-driven meme cryptocurrency built on BNB Chain. It was launched on the 

 Inspired by an Abu Dhabi company’s $2 billion investment in Binance, MUBARAK — which means “blessed” in Arabic — carries a unique appeal for Middle Eastern crypto markets. This targeted cultural approach distinguishes MUBARAK from other 

, giving it particular appeal in regions with growing crypto enthusiasm.

Shortly after the coin’s launch, its community quickly took control over it, guided prominently by the influential persona 

 on social media platform X. Users can also create Mubarak-themed avatars on the website, giving influential figures a dash of Middle-Eastern charm — from CZ and Portuguese soccer star Cristiano Ronaldo to beloved meme coin mascots 

. The meme coin quickly attracted attention, due to its engaging branding and strategic community management, amassing a total of 12,400 followers in just two weeks. 

What’s the source of MUBARAK’s popularity? 

MUBARAK stands out from typical meme coins, thanks to several major Binance-related events accelerating its market visibility. 

On Mar 12, 2025, Abu Dhabi investment company MGX made history by investing $2 billion in Binance. This represented the largest single investment in the whole of cryptocurrency history, signaling strong confidence in the industry. It was also a pivotal moment that firmly established the Middle East as a key player in the crypto space. Right after MGX’s mind-blowing investment, CZ tweeted several Mubarak-related posts, leading to the eventual birth of MUBARAK the very next day.

Binance Alpha, a dedicated platform for emerging and promising BNB Chain tokens, promptly listed MUBARAK on Mar 15, 2025, further validating the meme coin's potential. This integration enhanced MUBARAK's credibility, trust and market exposure, attracting a broader investor base beyond that of typical meme coin enthusiasts.

The second significant event that led to the greatest boost in its price and market cap took place when CZ personally bought 1 BNB worth of MUBARAK (around $600 at the time of purchase) on Mar 17, 2025. Both its listing and CZ’s purchase of the coin within a matter of two days pushed the coin to an all-time high (ATH) of $0.21 by Mar 18, 2025. While MUBARAK rapidly declined from its ATH to $0.13 just one day later, CZ’s cryptic endorsement for the coin briefly ignited more community excitement. 

On Mar 19, 2025, CZ sparked speculation in the Mubarak community by changing his X profile picture to feature himself wearing traditional Arab attire. The crypto community widely interpreted CZ’s subtle gesture as a potential endorsement or “hint” toward future Binance involvement. This led to a rapid increase in Mubarak's price (over 30%) within the same day as it reached $0.165 and briefly touched a $166 million market cap.

Mubarak’s straightforward and transparent tokenomics (below) are designed to foster investor confidence and community engagement.

Mubarak's simple token structure and availability on a reputable 

 (DEX) enhance accessibility, providing investors easy entry and liquidity options without relying solely on 

As of Mar 28, 2025, MUBARAK is priced at $0.096, reflecting a 55.3% decrease from its ATH of $0.21 on Mar 18, 2025, and a 237% increase from its all-time low (ATL) of $0.028 on Mar 16, 2025. It has a current market cap of $95 million and a 24-hour trading volume of $306 million.

MUBARAK’s price surged over 480% from the time of its launch, primarily due to strategic visibility from its Binance Alpha integration, speculative interest following CZ’s interactions and growing enthusiasm for meme coins in the crypto market. At its peak, MUBARAK achieved a market cap of approximately $166 million, reflecting significant investor confidence and demand.

Mubarak (MUBARAK) has quickly established itself as an influential meme coin in the crypto market, boosted significantly by strategic integrations like Binance Alpha, and speculative attention fueled by former Binance CEO Changpeng Zhao’s interactions. Its unique cultural branding, particularly appealing to Middle Eastern crypto circles, has further amplified its market visibility and adoption. However, investors must approach meme coins with caution due to these assets’ speculative nature, which often leads to considerable volatility and potential risks.

If you're interested in participating in MUBARAK’s growth story, you can trade 

, where you can participate in high-risk/high-reward Perpetual contract trading with up to 12.5x leverage.

Beginner

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Mubarak (MUBARAK): Arabic-themed BNB Chain meme coin

Margin Staked SOL is a Bybit product that allows you to earn SOL staking rewards and utilize leverage of up to 2x to amplify your earnings.

 can be a great way to earn yield in crypto, and 

 (SOL) is one of the most popular blockchain platforms for doing so. However, setting up and running a Solana validator node is technically complex. Additionally, financial requirements for Solana validators are high. While the official minimum stake is just 0.01 SOL (around $1.33), in reality, a typical Solana validator needs 

 staked just to break even — an investment of about $6.66 million (as of Mar 28, 2025).

Most crypto users who would like to benefit from staking rewards on Solana simply don’t have that kind of capital. And many don’t want the hassle of setting up a full validator node.

Back in September 2024, Bybit introduced 

 (LST) that lets you earn Solana staking rewards with minimal investment, and no need to manage a validator node.

bbSOL has been a major success, allowing Bybit users to earn staking rewards without technical or financial barriers. Now, Bybit is taking it a step further with Margin Staked SOL — a new Solana staking product that utilizes bbSOL and offers leveraged borrowing to amplify the rewards.

 is a Bybit leveraged liquid staking product that’s designed to help you earn Solana staking rewards with minimal hassle.

 Using it, you can invest your SOL and Bybit will allocate the funds to Solana blockchain validators, allowing you to earn staking rewards. When you stake through Margin Staked SOL, you receive bbSOL, an LST that serves as a deposit certificate and accrues staking rewards. Unlike standard bbSOL staking, Margin Staked SOL allows you to use 

For example, if you have 100 SOL and opt for 2x leverage, the total amount committed to Solana staking will be 300 SOL — your 100 SOL principal plus the borrowed 200 SOL. You’ll pay interest (which is variable and calculated hourly) on the borrowed amount.

Bybit allocates your total staking amount through 

 (CLOUD), Solana's leading liquid staking solution. Sanctum's 

 distributes staked funds across multiple validators to optimize the total yield.

The key advantage of Margin Staked SOL is its capacity to amplify staking rewards through leverage. In addition, you don't need to handle the technical complexities of running a Solana validator. The minimum investment required is just 0.5 SOL (around $70), drastically lower than the millions of dollars needed to run a profitable validator node in Solana's highly competitive staking ecosystem.

Upon committing your funds to Margin Staked SOL, you’ll receive the bbSOL LST. All staking rewards accrue in this asset, and you can redeem your investment at any time by exchanging bbSOL for your original SOL. After deducting interest on the borrowed funds, you’ll receive your SOL, along with all the accrued rewards. bbSOL accumulates rewards every time a Solana epoch is completed, typically taking 2–3 days.

As an LST, bbSOL normally allows you to keep your original SOL locked while using the liquid token across the Solana 

 (DeFi) ecosystem, and within Bybit products like On-Chain Earn, Bybit Savings and Crypto Loans. However, when bbSOL is issued via Margin Staked SOL, it must remain locked, and cannot be used in other Bybit or DeFi products. It acts solely as your deposit confirmation, and continues accruing rewards until you withdraw from Solana staking via Margin Staked SOL.

Interest on the borrowed funds within Margin Staked SOL is calculated hourly, with any duration under one hour rounded up to a full hour. The interest rate is variable, and updates every hour. You can check the current rate in your account under 

Rewards in Margin Staked SOL aren’t distributed immediately. Instead, they accumulate in your bbSOL, and can be redeemed at any time alongside your SOL principal investment. Bybit provides two redemption options for bbSOL:

If your PnL position declines beyond a certain level during staking, Bybit will send you a margin call notification via email, prompting you to either redeem your investment or contribute more SOL. If your PnL drops even further, an automatic stop-loss transaction will be triggered to redeem your funds and cover the loan and accrued interest. These measures are designed to protect you from unexpected losses.

Besides Margin Staked SOL, Bybit also offers another product for those who would like to earn yields from hassle-free decentralized staking: 

. There are three key differences between the two products: 

1) Unlike On-Chain Earn, Margin Staked SOL allows you to use leverage, amplifying your potential returns and risks. 

2) On-Chain Earn creates opportunities for staking on several blockchains, while Margin Staked SOL is a solution that’s designed exclusively for Solana staking.

3) Staked assets in On-Chain Earn can be withdrawn and utilized in their respective blockchain ecosystems, whereas the bbSOL from Margin Staked SOL is locked solely for yield generation, and cannot be used elsewhere. 

How to get started with Margin Staked SOL

Here’s how to get started with staking your SOL.

: In your account’s navigation pane, click on 

: On the left side, you’ll see the APR chart for the product, containing information on the Net APR; the trend over the past 1,7 or 30 days; and the highest and lowest Net APRs over a selected time period.

: On the right side, you can set options for your Margin Staked SOL (the leverage ratio and the SOL amount to transfer from your main account). You’ll see the amount of automatically calculated bbSOL you’ll receive, total borrowed amount and estimated daily yield.

to view a detailed breakdown of your bbSOL holdings. Then, click on either

: On the confirmation pop-up window, enter the amount of bbSOL you wish to redeem, or click on 

to redeem your full balance. Review the details, then click on

 to proceed, depending upon your earlier choice. 

to finalize your redemption on the redemption confirmation pop-up. Your redeemed SOL will be sent to your 

Until Apr 4, 2025, 10AM UTC, you can also take advantage of Bybit’s 

 campaign that’s dedicated to the Margin Staked SOL product. This campaign lets you earn up to 10 Lucky Draw tickets, each guaranteeing at least a 1 USDT 

, with a chance to win up to 100 USDT. In order to participate in the campaign, you must register for the event and complete a series of tasks as follows:

Bybit’s Margin Staked SOL allows you to earn Solana staking rewards without the hassle of setting up and running a validator node — all via your account’s easy-to-use interface. The leverage option is also a great way to multiply your rewards. Moreover, the minimum investment is minuscule, especially compared to running a Solana validator, and there are two easy redemption options — and all of these benefits without needing to interact with the underlying Solana blockchain!

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Bybit Margin Staked SOL: Unlock higher yields with less effort

Animoca Brands has partnered with Soneium, Sony’s Ethereum Layer 2 blockchain, to develop Moca Network’s identity layer and launch anime initiatives on Soneium.

The S&P 500 fell 0.33% as tariffs and inflation concerns weighed on markets, with energy, tech, and communication sectors leading losses. Gold hit a record $3,059 as Trump’s tariffs fueled trade war fears, boosting safe-haven demand. The Coindesk Indices, which tracks the broader crypto market, are down by 1.01%, with Bitcoin up by 0.55% and Ether down by 0.18% in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is CARV, up 9.2%, as it expands globally and redefines data ownership.

CARV (CARV), founded in 2022, is a modular data layer empowering users to control their data, enhancing privacy for gaming and AI systems through its CARV Protocol and ecosystem platforms. 

, advancing AI, gaming, and data ownership with its SVM Chain, which ensures privacy, scalability, and interoperability between Ethereum and Solana. With listings on Tokocrypto and Mercado Bitcoin, CARV is targeting Southeast Asia and Latin America, where users can better control and monetize their data. The $CARV token powers governance, gas fees, and incentives, fostering a user-owned data economy. Strategic partnerships with Kite AI and ARPA enhance AI intelligence, verifiable randomness, and blockchain security.

Check out the latest prices, charts, and data of 

, Sony’s Ethereum Layer 2 blockchain, to develop Moca Network’s identity layer and launch anime initiatives on Soneium. Moca Network’s AIR SDK will integrate into Soneium, enabling decentralized identity (DID) and reputation features, starting with San FranTokyo’s Anime ID. This collaboration aims to onboard anime fans to blockchain-powered experiences and enhance engagement across anime, gaming, and Web3. Sony’s Soneium, developed by Sony Block Solutions Labs and Startale Group, seeks to merge creativity and technology, while Animoca Brands’ partnership strengthens the digital identity infrastructure for an interconnected Web3 ecosystem.

Yesterday, BTC spot ETFs saw $85M in inflows, all from non-GBTC funds.

, allowing users to earn Fragments through Galxe and Zealy quests, potentially qualifying for an airdrop. Participants must complete quests, connect wallets, and use a referral code. Points update weekly, and the program may be limited in duration.

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Animoca Brands and Sony’s Soneium partner to enhance digital identity and anime experiences in Web3

Trading

Risk management involves cautious planning to identify, analyze and limit the potential losses by formulating contingency plans to cushion the unfavorable moments. Learn more.

Ask any seasoned trader and they’ll confirm that successful trading hinges on managing risk as well as picking winning trades. Think about it: Crypto trading is extremely volatile and potentially lucrative, but it also comes with considerable risks that can wipe out your capital in seconds. Having a proper risk management system can mitigate these risks.

Here’s the good news: This blog post will teach you how to use crypto risk management to minimize risk — and increase your likelihood of cryptocurrency trading success.

Crypto risk management is the process of identifying, analyzing and controlling the potential losses that may arise from crypto trading.

It involves a comprehensive approach, encompassing goal setting, risk appetite definition, capital allocation, portfolio diversification and appropriate trading strategies and tools. This strategy helps avoid emotional trading decisions and encourages rational, disciplined decision-making. 

Crypto risk management aims to safeguard your capital from unfavorable market fluctuations and help you secure sustainable returns.

How to Assess and Formulate a Crypto Trading Plan

To achieve success in trading, you need to have a clear understanding of your goals and strategies. A crypto trading plan is a comprehensive document that outlines your risk profile, trading style, tools, indicators, entry and exit rules, and performance evaluation methods. It helps you stay focused, avoid impulsive actions, adapt to market changes and learn from mistakes. In order to create a robust trading plan, you must be well-versed in risk management and measurement techniques.

Familiarizing Yourself With the Risk Management Process

To effectively manage risk in trading, here are four key steps to follow:

When it comes to managing risk, measuring it is essential. Various metrics can help you quantify the risk involved in your trading activities.

The crypto market holds various risks that can affect your trading performance. Some of the main market risks are as follows.

Legal risks in crypto arise from unclear or inconsistent regulations, enforcement or compliance. For instance, you may face legal issues if your jurisdiction bans or restricts crypto assets; if your exchange or wallet is hacked, shut down or seized by authorities; or if you fail to report or pay taxes on your crypto transactions or holdings. 

Technology and security risks are a legitimate concern with crypto assets. Technical failures, glitches, bugs, hacks or attacks may compromise your crypto assets or platforms' functionality, integrity or availability. Congestion, delays, forks or upgrades in the network or protocol that supports your crypto assets are all possible technology and security issues. 

Other risks include downtime, errors, breaches or thefts in the exchange or wallet you use to trade or store your crypto assets; and damage, loss, theft, infection or corruption in the device or software that you use to access your crypto assets.

Exchange risk means encountering unfavorable price movements because of differences in supply and demand across various exchanges. This situation can occur when the exchange on which you trade your crypto assets has lower or higher prices, liquidity or fees than another exchange that’s involved when you’re transferring, withdrawing or depositing your assets. 

Liquidity risk arises when trading crypto assets becomes difficult due to a lack of buyers or sellers in the market, resulting in unfavorable prices. Thin, volatile or illiquid markets, low volume or depth on exchanges, and off-peak trading times are examples of conditions that can lead to liquidity risk. 

Leverage risk, which occurs when using borrowed funds or 

, can lead to amplified losses. For instance, this risk can arise when the value of your crypto assets moves against your position and causes a margin call or 

, or when unexpected increases in interest rates or borrowing fees occur. In addition, if the exchange you’ve borrowed funds from changes its margin requirements or terms without warning, you may face leverage risk. 

The term "risk of ruin" describes the possibility of losing all your trading capital due to consecutive losses. These losses can occur if you overtrade, trade with positions that are too large relative to your capital, use high leverage or a low stop-loss level, or experience a 

Top Crypto Trading Techniques for Risk Management

Top crypto trading techniques help you improve crypto trading performance and reduce risks. Following are some well-known crypto trading strategies.

To effectively analyze a crypto asset’s price movements, evaluate different time frames, such as daily, hourly or minute charts. This approach can help identify trends and patterns in long-, medium- and short-term markets. It can also confirm the validity and strength of signals and indicators, and help pinpoint ideal entry and exit points. For optimal results, choose a primary time frame that aligns with your trading style and objectives, a secondary time frame that provides a bigger market picture and a tertiary time frame to fine-tune your trades.

Position sizing entails determining the optimal amount of money to risk, based on your risk tolerance and available capital. This technique can help you achieve consistent and sustainable returns by avoiding the pitfalls of risking too much or too little on each trade. 

To use this method, start by defining your maximum risk per trade as a percentage of your total capital (e.g., 1%, 2%, etc.), and then calculate your position size by dividing your maximum risk by your stop-loss distance (e.g., if your maximum risk is $100 and your stop-loss level is 10%, your position size is $1,000). Finally, adjust your position size based on the volatility and liquidity of the crypto asset you're trading.

Before entering a trade, compare your potential reward and risk using a profitability and feasibility evaluation technique. This approach can help you avoid trades with low chances of success or high potential loss, while maximizing profits and minimizing losses. 

In order to use this technique effectively, define your target and stop-loss prices for each trade. Calculate your reward/risk ratio by dividing potential reward by potential risk. For instance, you can achieve a ratio of 2 if your target price is $1,200 and your stop-loss price is $1,000. Choose trades with a reward/risk ratio greater than 1, ideally higher than 2.

To safeguard your capital and avoid emotional stress, set a predetermined price level at which to automatically exit a losing trade. This technique also enhances your discipline and confidence. To make it work, place your stop loss at a strategic price level based on 

, such as support or resistance levels, trend lines or moving averages. Be careful not to set your stop loss too close or far from your entry price. A general rule of thumb is to avoid placing it less than 1%, or over 10%. As the market moves in your favor, consider moving your stop loss to break-even or a profitable position using a trailing stop loss.

One powerful technique is to capitalize on a sudden and significant surge in the price of a cryptocurrency asset caused by the forced liquidation of short sellers. This approach offers several advantages, including the ability to profit from sharp and swift price movements, exploit the vulnerability and panic of short sellers, and anticipate and confirm a downtrend reversal. 

To utilize this method, begin by identifying a crypto asset with high short-interest and low liquidity. Wait for a positive catalyst or strong bullish signal that can trigger a short squeeze before buying the asset and setting a tight stop-loss and high target price. Exit the trade once the short squeeze ends, or when the market displays signs of exhaustion or reversal.

How to Use Crypto Portfolio Management Tools to Limit Risks

Besides using trading techniques, you can also implement various tools to help you manage your crypto portfolio and limit your risks. Some of the main types of tools are as follows.

These tools help you analyze price movements and trends in the crypto market using mathematical formulas, algorithms or patterns. They can help you to:

Some examples of technical analysis tools are as follows:

These are tools that help you manage your crypto portfolio and optimize your performance using various features and functions. They can help you to:

Some examples of portfolio management tools are as follows.

Crypto trading is a rewarding but risky activity that requires proper risk management. By following the tips and techniques discussed above, you can reduce your risk and increase your chances of success in the crypto market.

Remember that risk management isn’t a one-time event, but rather an ongoing process that requires constant monitoring and adjustment. Therefore, keep learning and improving, and adapting to the changing market conditions.

Now that you are familiar with risk management, you can take this chance to 

 and take weekly quizzes to win a share of the 3,000 USDT prize pool! The event runs from Oct 9, 2023, 1PM UTC to Dec 17, 2023, 1PM UTC. Make sure not to miss this exciting opportunity to win great prizes!

Crypto Trading Risk Management: How to Mitigate Risk Exposure

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards