Cryptographic merchants were in joyful humor on Thursday morning, since Bitcoin approached $ 119,000, establishing his new record.
The Altcoin market also heated; Tokens like and Published two -digit earnings while The increase on Wednesday continued with a 58% movement in the last 24 hours to $ 143.
The catalyst for Crypto’s rise was a mixture of ETF inputs, the increase in gold and the general positive feeling towards risk assets.
Derivative positioning
- The BTC futures market is showing a strong and sustained bullish trend, with key metrics that reach new maximums. The open interest has risen to a historical maximum of $ 32.6 billion, which reflects a significant increase in exposure to the merchant, with Binance leading the road in $ 13.6 billion.
- This record of interest is supported by a stable annualized base of 3 months, which has resolved around 7%, indicating that the basis of trade remains profitable and reinforces the positive feeling of the market. The combination of these two metrics suggest that the recent price action is being driven by a solid bullish positioning based on convictions instead of short -term speculation.
- The BTC options market presents a complex and contradictory image of the feeling. While 25 Delta’s bias for short -term options continues its downward trend, now with only 3.25%, suggesting that merchants are willing to pay a premium for coverage stalls against the downward risk, the volume of put/24 -hour called a different story.
- Calls are still dominating the volume of more than 56%, indicating that most merchants are actively positioning for a rally instead of a decrease.
- Meanwhile, the BTC financing rate in the main exchanges is around 9% to 10% annualized, indicating a healthy demand for leverage long positions.
- However, a significant atypical value is the Delibit, where the financing rate has dramatically increased to more than 60%. This isolated but extreme peak suggests an intense and concentrated demand for long positions on that platform, but the general market, including Altcoins, still does not seem to be overheated with average funds for the 30 main currencies through market capitalization in about 10% annualized, according to the coinglasa.
Token talk
By Oliver Knight
- The founder of Plasma, Paulie Punt, has refuted the statements that the recently issued Token XPL had been sold by team members, despite the data in the chain that suggest otherwise.
- Paul declared that no member of the Plasma team has sold his Holdings XPL since its launch. According to him, all investors and equipment assignments are subject to a three -year block with a one -year cliff, which means that it cannot be accessed or sold within that period. He stressed that the circulating statements of internal discharge were unfounded.
- The Plasma founder also withdrew against the characterizations that the team was mainly composed of “ex-white” employees. Of the approximately 50 team members, only three had previous periods in Blur or Blast, he said. He pointed out that the group also includes professionals with a history in Google, Facebook, Square, TeMek, Goldman Sachs and Nuvei, who underline the broader pedigree of the project.
- Another point of discussion has been winter, a well -known cryptography trade firm often compromised as a market manufacturer for new projects. Paul denied that Plasma had hired Wintermute for market or other services, saying that the company has no more information about Wintermute’s Holdings XPL than the public.
- The pseudonym researcher of Manamoon initially stated that more than 600 million tokens XPL have been transferred from the project vault to exchanges from launch.
- XPL has worked relatively bad since the launch; Slide from a maximum of $ 1.68 to $ 0.97, while the daily negotiation volume has remained stable at $ 2.6 billion.
