The cryptographic market experienced an impulse on Wednesday with greater Bitcoin and ether increase of 2.9% and 3.1% respectively.
But the true story was in the Altcoin market, since several tokens increased with two digits, since investors speculate in another phase of the “ATLCOIN season”.
ZEC reached its highest point since May 2022, while several Tokens Defi also experienced upward movements.
The market increase comes along with a backdrop of the closure of the United States government, which has caused gold prices to register maximums and caused a sales sale in the dollar.
Derivative positioning
By Jacob Joseph
- The BTC futures market continues to show a strength bias. The general open interest of futures remains high in around $ 31.69 billion, reflecting the sustained participation of the merchant, and Binance still leads the package at $ 13.19 billion. At the same time, the annualized base of 3 months remains firm between 6% and 7%, indicating that base trade is still solid. This metric consisting of open interest and the base suggests that merchants not only increase their exhibition, but are doing it with conviction, reinforcing the positive feeling observed in the market.
- The BTC options market continues to show a divergence among its key metrics, presenting a complex image of the market feeling. While the 25 SIDE Delta for short -term options remain low, which suggests that merchants are still willing to pay a Put premium to protect against the downward risk, 24 -hour Put/Call volume points to an increase in bullish speculation. The latest data show that the calls now represent 63.54% of the total volume, a strong investment of a market dominated by Put. These conflicting data indicate a highly polarized environment in which some merchants are covering the possible price drops, while a larger number is actively betting on a short -term rally.
- Financing rates have not only remained positive in the main exchanges such as Binance and OKX, but have retired in all areas, even in historically volatile hyperlychid. Delibit, in particular, is seeing a significant premium, with its annualized financing rate that jumps to 17%. This indicates a strong and sustained demand for leverage long positions, since merchants are constantly willing to pay a high premium to celebrate their upward bets. The general positive financing on all the main platforms indicates a conviction of the collective market in a continuous upward trend for BTC.
- Caramel data show $ 644 million in 24-hour settlements, with a 38-62 division between lengths and shorts. BTC ($ 166 million), ETH ($ 164 million) and others ($ 69 million) were leaders in terms of notional liquidations. BINANCE LIQUIDATION HEATMAP indicates $ 116,650 as a central liquidation level to monitor, in case of a price increase.
Token talk
By Oliver Knight
- Privacy token The pack will lead on Wednesday, rising to its highest point since May 2022 after a break against its Bitcoin and dollar trade peers.
- ZEC touched $ 97.25 before withdrawing around $ 92.00, an increase of 41% for the daylist of a 36% increase in the daily negotiation volume to $ 300 million.
- The increase comes next to an impulse in the broader market of Altcoin, with tokens defi curve (CRV) and All increasing by more than 8%.
- Several catalysts triggered the recovery of cryptography; In particular, the closure of the United States government that brought the lowest dollar and gold to new records at $ 3,887.
- Altcoins has surpassed Bitcoin so far on Wednesday, although it is worth noting that the average cryptographic relative force index (RSI) approaches the overcompra territory, suggesting that a period of consolidation is on cards as the market begins to cool.
- An atypical market was Aster, the native token of the perpetual exchange based on the BNB chain of his homonym. Aster collapsed 6.8% on Wednesday to aggravate a 25% decrease during the past week as the hype in the hyperlichid rival begins to fade.
