Bitcoin It continues with a key level of resistance to $ 120,000, since it establishes its sights in new records.
Batter merchants are trying to defend the area, increasing short positions, but this could feed the fire and create an upward momentum, also known as a short presentation.
The Altcoin market is also working well, increasing more despite a relative lack of volatility compared to the previous movements.
Derivative positioning
- The BTC futures market is still strongly optimistic, with an open interest participation in historical maximums of more than $ 32 billion. The three -month -old annualized base is also high, which is approaching 8%.
- However, there is a remarkable divergence in financing rates. The detribit rate is exceptionally high by 25%, while other exchanges such as Bybit show more neutral funds, which suggests a potential concentration of aggressive long positions in specific areas.
- The BTC options market is showing a state of neutrality. The 24 -hour puts call volume is still slightly dominated by calls at 52.25%, but this is a decrease in previous days, indicating a potential moderation of the bullish conviction.
- At the same time, the 1 week 25 delta bias is now essentially flat at 0.33%, indicating a balanced implicit volatility for the positions and calls.
- This combination of metrics suggests a market that is being installed in a more balanced and hesitant phase after a stronger horny feeling period.
- Coinglase data show $ 380 million in 24-hour settlements, with a 35-65 division between lengths and shorts. Binance Liquidation Heatmap indicates $ 121,300 as a central liquidation level to monitor, in case of a price increase.
Token talk
By Oliver Knight
- The encryption market continued to exceed Friday with the tastes of ETH, Sun and XRP that increased by more than 2%, while smaller market capitalization tokens such as ETHFI and Cake increased up to 15%and 25%.
- The relative force occurs when Bitcoin, the largest cryptocurrency in the world, reached $ 120,000 on Thursday, since it points to records exceeding $ 124,000.
- But unlike the previous incursions above $ 120,000, this movement has been quite silenced; with the remaining price in a strict range instead of an increase in volatility.
- This is a good omen for the Altcoins that generally work well when Bitcoin is consolidated, since it allows capital to turn from Bitcoin to more speculative bets.
- However, upward change has not been kind to a few selected chips, especially that an exhausting decrease of 43% was discussed due to a rapid relaxation of leverage.
- The Token XPL of Plasma, as reported in Thursday’s Daybook, continues to stutter in the midst of speculation about whether market manufacturers are cutting in the name of the founding team, an affirmation that XPL founders have denied.
