Deribit Insights published a weekly review of the cryptocurrency derivatives market, prepared by BlockScholes. The review focuses on Bitcoin's movement against the backdrop of significant macroeconomic events.

According to data cited in the report description, Bitcoin primarily traded in a narrow range between 63 000 and 65 000 dollars. During the same period, a joint currency intervention by the US and Japan to buy yen and a significantly weaker-than-expected US jobs report for July were mentioned.

For the market, this is important primarily as an example of Bitcoin's limited reaction to external macroeconomic impulses. However, the available material represents only a synopsis of the publication, so it does not allow for a confident assessment of the causes of the sideways movement or the state of the derivatives market.

The next useful signal will be a change in Bitcoin's range and new data on the reaction of cryptocurrency derivatives to macroeconomic events. It remains unclear what specific metrics and conclusions the full BlockScholes report contains.