Crypto markets experienced a much-needed bounce on Monday, including Bitcoin rising to $ 115,200 while ether Traded for $4,160.
The increase can be attributed to the expectation of the full meeting of the Federal Reserve on Wednesday, where an interest rate is expected.
The dominance of bitcoin continues to increase to reflect the relative weakness of the entire altcoin market, although there were some outliers on Monday in the form of and .
Derivatives Positioning
By Jacob Joseph
- BVIV, which measures BTC’s 30-day implied volatility, is down an annualized 44%, nearly reversing the October 10 spike in a sign of ebbing market stress.
- The bias for listed BTC listed BTC weakened across all tenors. However, longer term return risk remains slightly neutral to bearish. The same can be said for ETH, although on the short end, the bias for ETH puts is slightly greater than for BTC.
- Last week, traders continued to sell topside (calls) on the CME to collect premium and generate yield on their BTC Longs.
- Open interest in futures tied to most cryptocurrencies, excluding XRP, Hype and HBAR, has increased over the past 24 hours, indicating capital inflows amid the price rally.
- Although Bitcoin prices climbed to their October 21 high, total open interest in USDT- and USD-denominated perpetual futures on major exchanges remains below the levels seen on October 21. This divergence suggests that foreclosure of trader participation in BTC’s recent rally is limited.
Token talk
By Oliver Knight
- The crypto market’s bounce ahead of Wednesday’s federal reserve rate decision is mirroring the entire Altcoin sector, with the likes of and Posting double digit gains.
- There has also been a notable increase in tokens issued in or before 2018 as and Both increased by 8% and 9.5% respectively, while ether is back in bullish territory with an inflow at $4,150.
- The reversal in price action was not felt in the two newly released tokens; Plasma and asters Both collapsed further to the downside as waning demand could not stem wave after wave of selling pressure.
- Plasma initially rose to as high as $1.67 in the days following its launch, notching $3.3 billion in daily volume in the process. However, it is now trading at $0.36 with daily volume falling to $297 million.
- Aster, meanwhile, is trading at $1.07 having lost 43% of its value in the past month. It was initially positioned to be a rival to hyperliquid decentralized derivatives exchanges, but the hype has since withered. After the concerns surrounding the legitimacy of the trading volume on the platform.
- Bitcoin Dominance Apparently slightly at 59.1% on Monday, from a low of 57.1% six weeks ago, suggesting that investors prefer the more measured gains of BTC over the more speculative altcoin bets.
