Bitcoin traded at $ 111,000 on Tuesday as it clung to a critical level of $ 110,000 support levels.
The world’s largest cryptocurrency is struggling to recover from a weekend sale that has seen it fall from $ 121,000 to $ 110,000, wiping $ 500 billion in terms of overal Crypto Market Cap.
Altcoins perform even worse in the latter; Plasma dropped by 58% a week while fet, op and ethfi all lost to more than 35% of their value respectively.
Derivatives positioning
- The BTC Futures market appears to be stabilizing following recent volatility. The open interest has arranged around $ 25.5 billion, which has not shown major change from yesterday after a significant weekend fall. The 3-month annual basis is now trading at a lower range of 5-6%, a fall from its previously rebound and indicating a slight cooling of bullish emotions. A major difference -Ing remains at funding rates, with a Bybit rate that has been negatively to -5%, while hyperliquid remains positive at 10%. It suggests a mix -a -complex and complex sentiment on the market, with strong but isolated long and brief beliefs on various platforms.
- The BTC options market shows a significant bullish acceleration. The 24-hour placement/volume call is almost balanced in a 50-50 split, a transition from being managed by the call, while the 1-week 25 delta skew has dramatically rotated at 12.62%. This high positive skew suggests a huge premium for surface calling options, showing that entrepreneurs are aggressively positioning for reversed price action and are willing to pay a premium for bullish exposure.
- Coinglass data shows $ 627 million in 24-hour liquidation, with a 70-30 split between longs and shorts. ETH ($ 185 million), BTC ($ 125 million) and others ($ 69 million) leaders in terms of notional liquidations. Binance Liquidation Heatmap indicates $ 110,600 as a level of basic extermination to monitor, in the event of a price collapse.
Token talk
By Oliver Knight
- Plasma XPL $ 0.4163 Falling another 13.5% on Tuesday, extending losses to 52% since the debut in late September.
- The stablecoin dedicated to the layer-1 blockchain faces doubt in its tokenomics and large allocation of “ecosystem and growth”.
- Moving -switching supply stands at 1.8 billion against a total of 10 billion, pointing people potentially selling pressure as unlocking tokens.
- The tokens were sold in public rotation to $ 0.05 each, leaving ICO consumers comfortable with revenue at current prices around $ 0.41.
- Investors who buy after exchange lists are faced with steep losses amid weak feelings in the market.
- Analysts expect continuous downward pressure once the investor’s early tokens become completely liquid, Icodrope The data shows a major unlocking will take place in Q2 by 2026.
