By Omkar Godbole (at all times and unless indicated otherwise)
Investors are still spinning money on Altcoins, raising values for ETH, Ray, ENA, MKR and other tokens while leaving Bitcoin (BTC) that has changed little above $ 100,000.
While the biggest cryptocurrency by market value is only 7% short of hitting a new high, 30-day choices based on choice or expected volatility, represented by the Dvol Index of the derivit, has been walking near the lowest level since June 2024.
This type of calm is usually preceded in large motions. Georgii Verbitskii, a market analyst and founder of Tymio, a crypto investor app is best: “The options indicated volatility are very low, the market doesn’t seem to believe in strong motions, and 1- to 3-month pricing is still cheap.
BTC will quickly break $ 115,000, Verbitskii said, to note that, “If the thesis of the liquidity is holding – where global liquidity supports Bitcoin – we will see the breakout as early as May.” Just to remind you, Bitcoin hits a record high around $ 109,000 in January.
However, the market is facing potential headwinds. For example, the U.S. Senate has the last chance to pass the Bipartisan Genius Act, a bill introduced in February calling on those who gives to restore digital currencies with a safe reserve and report them monthly or deal with penalties. The bill Unable to move forward with a recent vote. According to the Senate policies another failure will kill the bill unless all the senators are considering re -considered, according to Tagus Capital.
Further, the US SEC delayed a decision On Tuesday if in-kind redemption will be allowed for the funds exchanged by the Bitcoin Blackrock’s Bitcoin exchange as it asks for a comment.
In other news, Defi Development Corp. bought 172,670 SOL costs nearly $ 23.6 million, bringing Solana’s total handling treasury to over $ 100 million.
That is less common, with many companies running in Bitcoin: an update from the company dedicated to the Bitcoin River Points: “Thousands of companies in all sectors use Bitcoin to offset inflation and build their treasury.” Stay alert!
What to watch
- Crypto:
- Macro
- May 14, 3 PM: Argentina’s National Institute of Statistics and Census has released April inflation data.
- Inflation rate mom est. 3.1% compared to prev. 3.7%
- The rate of inflation yoy est. 47.7% compared to Prev. 55.9%
- May 15, 8 AM: The Brazilian Institute of Geography and Statistics releases data on March’s retail sale.
- RETAIL SALES MOM EST. 1% compared to Prev. 0.5%
- RETAIL SALES YOY EST. -0.5% compared to prev. 1.5%
- May 15, 8:30 AM: The US Bureau of Labor Statistics releases April producer price inflation data inflation.
- Core ppi mom est. 0.3% compared to Prev. -0.1%
- Core ppi yoy est. 3.1% compared to prev. 3.3%
- PPI mom est. 0.2% compared to Prev. -0.4%
- Ppi yoy est. 2.5% compared to prev. 2.7%
- May 15, 8:30 AM: The US Census Bureau released April’s retail sale data.
- RETAIL SALES MOM EST. 0% compared to prev. 1.5%
- Retail sales yoy prev. 4.9%
- May 15, 8:30 AM: The US Labor Department is issuing unemployment insurance data for the week completed on May 10.
- Initial claims of unemployment. 230k compared to Prev. 228k
- May 15, 8:40 AM: Fed Chair Jerome H. Powell will deliver a speech (“Framework Review”) to Washington. LIVESTREAM LINK.
- May 14, 3 PM: Argentina’s National Institute of Statistics and Census has released April inflation data.
- We are (Estimates based on factset data)
Events with the token
- Votes and Management Calls
- Uniswap Dao voted on a proposal to Fund the uniswap integration V4 In Ethereum in OKU and add unichain to OKU to a bid to enhance uniswap reaches and transfer of liquidity to V4. Voting ends May 18,
- May 14, 11:30 am: Jupiter to hold a Jup rally.
- May 15, 11 AM: Fruit Guild Games to Host Q1 2025 Community update Ask me any (father) session.
- May 15, 10 AM: MOCA Network to Host A Discord townhall Session discussed network updates.
- May 21, 6 pm: Theta Network to dost a Ask me any session to a livestream.
- Unlocks
- May 15: StarkNet (Strk) to unlock 4.09% of his circulating -shifted supply worth $ 23.53 million.
- May 15: SEI (SEI) to unlock 1.09% of its circulating -shifted supply worth $ 14.22 million.
- May 16: Cannot change (IMX) to unlock 1.35% of its circulating -transfer supply worth $ 17.8 million.
- May 16: Arbitrum (ARB) to unlock 1.95% of its circulating -shifted supply worth $ 39.06 million.
- May 17: Avalanche (AVAX) to unlock 0.4% of its circulating -shifted supply worth $ 42.84 million.
- Launching a token
- May 15: Rize (Rize) to list in Kraken.
- May 16: Gal) Delisted From Coinbase.
Conference
CoinDesk’s consensus takes place Toronto on May 14-16. Use a codebook code and save 15% on passes.
Token talk
By Shaurya Malwa
- Synthetix considers the purchase of derive, an Ethereum-based trading platform, in a $ 27 million token-swap deal, which absorbs Treasury, Codebase and Derive operation.
- The acquisition holders will receive 27 SNX tokens for each DRV. The tokens are faced with a three-month locking and nine-month vesting period.
- Some members of the Derive community expressed unpleasant -hecites the unpleasant values and lack of benefits.
- Get, original Lyra, was from Synthetix in 2021 but differs by finishing SUSD support and launching independent products, making it a rare defi reacquisition.
- Everywhere, “Launch Coin on Believe” (Launchcoin), former Pasternak, which has moved by 130% in the past 24 hours, aligned with moving the clout platform on the token release platform believes in a move that boosts the visibility and interests of the investor.
- The token has over $ 100 million in trading volume over the past 24 hours, from a $ 5 million average last week.
- The Believe platform has gained fast traction since the weekend, which attracts attention for a low-barrier model that enables web2 and traditional companies offering tokens for fundraising.
- These tokens are inherently worthless, however, that do not represent equity rights, and a strict policy by believing that the sharing of income with the tokenholders is not allowed.
Derivatives positioning
- Funding rates are green for most major tokens, except BCH, which indicates a bullish positioning in the Perpetual Futures market.
- Open interest suits the integrated volume of Delta (CVD) painting a mixed picture, with positive values for XMR, TRX, UNI, ETH, Avax and Sol that suggests the net purchase pressure. The remaining majors have a negative 24 -hour CVD.
- The block flows into the derivit featuring long positions in BTC calls and short positions on ETH placement, both indicate the sentiment of the bullish market.
Movements in the market
- BTC dropped 1.18% from 4 pm et Tuesday to $ 103,485.75 (24hrs: -0.07%)
- ETH dropped 2.81% to $ 2,608.56 (24hrs: +5.09%)
- CoinDesk 20 dropped 1.15% to 3,329.26 (24hrs: +2.51%)
- Ether CESR Composite Staking Rate drops 5 bps to 3.12%
- BTC funding rate is at 0.0051% (5.6316% annual) in Binance
- DXY drops 0.63% to 100.37
- Gold drops 0.31% to $ 3,234.30/oz
- Silver dropped 0.38% to $ 32.80/oz
- Nikkei 225 closed -0.14% to 38,128.13
- Hang Seng +2.3% closed to 23,640.65
- FTSE drops 0.13% to 8,591.52
- Euro Stoxx 50 dropped 0.56% to 5,386.05
- DJIA closed on Tuesday -0.64% to 42,140.43
- S&P 500 closed +0.72% to 5,886.55
- NASDAQ closed +1.61% in 19,010.08
- The S&P/TSX composite index is closed +0.33% to 25,616.86
- S&P 40 Latin America closed +2.41% to 2,640.68
- US 10-year Treasury Rate dropped 2 bps to 4.45%
- E-Mini S&P 500 Futures does not change to 5,900.00
- E-Mini Nasdaq-100 Futures do not change to 21,266.50
- E-Mini Dow Jones Industrial Average Index Futures do not change to 42,206.00
Bitcoin stats
- BTC Dominance: 62.39 (+0.34%)
- Ethereum in Bitcoin Ratio: 0.02509 (-2.49%)
- Hashrate (seven-day average move): 865 eh/s
- HASHPRICE (spot): $ 55.37
- Total fees: 6.27 BTC / $ 650,612.82
- CME FUTURES Open Interest: 145,350 BTC
- BTC is priced at gold: 31.9 oz
- BTC vs Gold Market Cap: 9.04%
Technical Assessment
- The chart shows the ether rally stuck to the 200-day simple transfer of average (SMA).
- A breakout will be confirmed The beginning of the bull market, which potentially draws more traders in the market.
Crypto equities
Strategy (MSTR): Closed on Tuesday at $ 421.61 (+4.13%), down 2.29% to $ 411.96 to pre-market
Coinbase Global (coin): closed at $ 256.9 (+23.97%), down 1.38% to $ 253.36
Galaxy Digital Holdings (GLXY): Closed to $ 29.39 (+3.52%)
Mara Holdings (Mara): closed to $ 16.37 (+2.63%), down 1.53% to $ 16.12
Riot Platform (Riot): closed to $ 9.06 (+4.14%), down 1.1% to $ 8.96
Core Scientific (Corz): closed to $ 10.24 (+3.64%), down 0.68% to $ 10.17
CleansPark (CLSK): closed to $ 10 (+3.95%), down 2.4% to $ 9.76
COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): Closed to $ 17.20 (+5.26%)
Semler Scientific (SMLR): closed to $ 36.70 (+5.34%), down 0.93% to $ 36.36
Exodus Movement (EXOD): Closed to $ 42.04 (-22.58%), unchanged pre-market
ETF is flowing
Spot btc etfs:
- Net -Net Flow: -$ 91.4 million
- Cumulative Net Flow: $ 41.05 Billion
- Total BTC Handles ~ 1.17 million
Spot etfs
- Sun -Sun Net Flow: $ 13.5 million
- Cumulative Net Flow: $ 2.48 billion
- Total Eth Holdings ~ 3.44 million
Source: Farside Investor
Overnight flowing
Chart of the day
- The chart shows the volume of the BTC Delta area, which measures the net difference between the purchase and sale of trading quantities.
- The scale is a positive one, proving that the move above $ 100,000 is supported by real demand in the market area.
While you are sleeping
In ether
