Beyond pure hype: News sentiment and its role in the BTC and ETH futures market

URN to cite this document:: urn:nbn:de:bvb:355-epub-780300
DOI to cite this document:: 10.5283/epub.78030

Kreuzer, Christian

; Sparrer, Christian ; Dorfleitner, Gregor

License: Creative Commons Attribution 4.0
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Date of publication of this fulltext: 29 Oct 2025 05:44

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Item type:	Article
Open Access Type:	DEAL (Springer)
Journal or Publication Title:	Review of Derivatives Research
Publisher:	Springer
Date:	3 January 2026
Institutions:	Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Finanzierung (Prof. Dr. Gregor Dorfleitner)
Keywords:	Cryptocurrency futures · Bitcoin (BTC) · Ether (ETH) · News sentiment analysis · Financial news media
Dewey Decimal Classification:	300 Social sciences > 330 Economics
Status:	In Press
Refereed:	Yes, this version has been refereed
Created at the University of Regensburg:	Yes
Item ID:	78030

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Abstract

Unlike traditional assets, cryptocurrencies lack fundamental information such as dividends, earnings, or cash flows, requiring market participants to rely on alternative sources of information for price discovery and trading decisions. In this study, we analyze the relationship between news sentiment and Bitcoin (BTC) and Ether (ETH) futures returns, as well as net trading positions. We use a ...