Crypto entrepreneurs were in a tragic situation on Thursday morning as Bitcoin closed above $ 119,000, setting views on a new high record.
The Altcoin market is also heated; tokens such as and Posted duplicate digit ones while Wednesday’s continued progress with a 58% move over the past 24 hours up to $ 143.
The catalyst for crypto increases is a mix of ETF flows, gold increases and general positive emotions towards risk properties.
Derivatives positioning
- The BTC Futures market shows a strong and prolonged bullish trend, with major metrics reaching new highs. The open interest has risen to a full time of $ 32.6 billion, reflecting a significant increase in business exposure, with Binance leading $ 13.6 billion.
- This record-high interest is supported by a stable 3-month annual basis, which has been fixed around 7%, indicating that the basis of trade remains profitable and strengthened positive emotions in the market. The combination of these two metrics suggests that recent price action is driven strongly, positioning based on convincing rather than short-term speculation.
- The BTC options market presents a complex and conflicting image of emotion. While the 25 Delta Skew for short -term options continues its descending pace, now at only 3.25%, suggesting that merchants are willing to pay a premium for fence putting against the downside risk, the 24 -hour placement/volume call tells a different story.
- Calls are still dominant in volume more than 56%, indicating that most traders are actively positioning for a rally rather than a denial.
- Meanwhile, the BTC funding rate on major exchanges walks between an annual 9% to 10%, indicating healthy demand for long positions.
- However, a significant outlier is the derivit, at which the funding rate is largely spiked by over 60%. It is isolated but intense spikes suggests strong, concentrated demand for long positions on that platform, but the general market, including Altcoins, has not yet appeared overheated with average funds for the top 30 coins through market capitalization around 10% annual, such as each coinglass.
Token talk
By Oliver Knight
- Plasma founder Paulie Punt denied claims that the recently released XPL token was sold by team members, despite on-chain data suggesting the opposite.
- Paul said there have been no members of the plasma team that sell their XPL holders since the launch. According to him, all the allocation of investors and teams are subject to a three-year lock-up with a cliff, which means they will not be able to access or sell within that time. He emphasized that the transferred -transfer claims of insider loading are unfounded.
- The founder of Plasma also pushed against the characterization that the team was primarily consisting of “ex-blast” employees. Of the approximately 50 team members, only three were ahead of the blur or blast stints, he said. He noted that the group also included professionals with Google backgrounds, Facebook, Square, TeMasek, Goldman Sachs, and Nuvei, emphasizing the broader pedigree of the project.
- Another point of dispute is Wintermute, a well -known crypto trading company that is often engaged as a market manufacturer for new projects. Paul denied that plasma contracted the Wintermute for market manufacture or other services, saying the company had no information about Wintermute’s XPL holdings than the public.
- Pseudonymous researcher Manamoon first claimed that more than 600 million XPL tokens have been transferred from the vault of the exchange project since the launch.
- XPL performs poorly from launch; Sliding from a high $ 1.68 to $ 0.97 while the sun -day -to -day trading volume remained steadfast at $ 2.6 billion.
