Blog

The BTC price is facing CME GAP leading to ‘UPTOBER:’ Crypto Daybook Americas

0 0 10 minutes read

By James Van Straten (all the time and unless otherwise indicated)

Btc$112,356.73up to 2.5% in the past 24 hours, has created a CME futures gap between $ 110,000 and $ 111,335. That was the difference between its prices when the CME market closed for Sunday on Friday and reopened on Sunday.

Eth$4,115.54 shows a similar setup. That gained 3.4% and left a space in futures starting around $ 4,000.

The thing about CME futures gaps is that they tend to be filled. With the two largest cryptocurrencies that currently trade higher, it means they are the same – at some point – are likely to restore and re -retest the lower levels.

Bitcoin’s monthly low Often there is a possibility of occurring within the first 10 days of trading, meaning that this sinking may come within the next two weeks. That is even October, often referred to as “UPTOBER“Is its history second-best performing months with an average return of 22%.

Widely, CoinDesk 20 index gained 3.2% in the past 24 hours with all members in green.

Outside of crypto, precious metals remain stable, along with gold Climbing 1.5% on Monday to $ 3,815 and silver approaching all the time high at $ 47, with the next breakout level at $ 50.

Macro markets focus on the highly influential reports of US jobs on Friday, with nonfarm payrolls, a measure of new jobs that do not include farm work and some categories, which are expected to 39,000 in conjunction with a stable 4.3% unemployment rate. The ISM Services PMI is forecast at 52, indicating the continued expansion of the world’s largest economy.

For Bitcoin to break the current $ 110,000 to $ 120,000 trading range, volatility and emotion have to return. The fourth quarter, starting Wednesday, can provide a catalyst. Stay alert!

What to watch

Crypto
- September 29, 8:00 PM: Pancakeswap (Cake) There is no stopping Support for Polygon ZKEVM Liquidity Pools and Perpetual V1 Orderbook. Users must remove the deadline fund.
Macro
- September 29, 7:30 am: Governor Christopher J. Waller gives a speech to “payment” in Frankfurt.
- September 29, 10:30 am: Sept. Dallas Fed Manufacturing Index (Prev. -1.8)
- September 29, 1 pm: US SEC and CFTC agencies are holding A Roundtable in regulatory reconciliation efforts. Watch live.
We are (Estimates based on factset data)

Events with the token

Votes and Management Calls
- Lido Dao is voting at Design and implementation Upgrading Lido V3, which among other things introduces staking vaults (stvaults) that allow users to choose specific staking operators. Voting ends on September 29th.
Unlocks
Launching a token
- September 29: Anoma (Xan) listed in Kucoin.
- September 29: Ronin (Ron) Treasury buybacks Start.
- September 29: Falcon Finance (FF) listed in Binance, Bingx, Kucoin, Gate.Io, Bitget and more.

Conference

Token talk

By Oliver Knight

The native token of Plasma, XPL, is beginning to cool the compliance with the red-hot trading debut. Tether-supported token changes hands to $ 1.29, down 12% in the past 24 hours, as the daily trading volume slides 9% to $ 2.3 billion.
The on-chain activity, however, tells a different story, with deposits rising 13.7% to $ 5.5 billion at the same time. Most of that capital flows into produce products such as plasma saves, which currently offers a nearly 20% annual return to lending vaults.
The combination of attractive produce and fast flows helped plasma quickly climb blockchain rankings, reached the base that was back-back in terms of the total amount locked, according to data from Delete.
While trading activity for XPL is cooled, the flowers suggest strong appetite for the investor during a relative -child lull in the broader crypto markets as properties such as BTC and ETH have fallen into their support levels at the end of the tail end last week.
It remains to be seen how good the plasma and the fare protocols at a stablecoin -focused blockchain are already getting fruits when the market is under pressure.

Derivatives positioning

General BTC Futures The open interest dropped to nearly $ 29 billion from a recent high $ 32 billion, indicating that entrepreneurs were reducing their exposure.
At the same time, the three-month annual basis remains compressed around 6%, making the base trade less profitable.
In essence, the market shows a clear transition from a bullish bias as entrepreneurs do not allow their long position and a growing number of shorts enter the market.
In options, the BTC indicated by the term of volatility term shows an upward curve while 25 delta skews for short-term options (1-week, 1-month) rise, suggesting that some entrepreneurs are paying a premium for placement calls, indicating a bullish bias.
This is directly opposed by the 24-hour put-call volume, showing the placement of the dominant with 58.43% of the contracts exchanged, a sign that a large number of entrepreneurs are still looking for downside protection.
Variation suggests a highly polarized market in which some estimate a short-term rally while others are actively hedging against further decline, leading to a state of anesthesia and mixed emotions.
BTC funding rates have recently been negative, suggesting a growing emotion. After handling almost all week, the annual Hyperliquid funding rate dropped significantly to a negative -6%. This indicates a strong belief from entrepreneurs who shorten BTC on that platform.
Meanwhile, funding rates in major areas such as Binance and OKX remain close to neutral. The general trend, especially the sharp collapse of Hyperliquid, suggests that traders are actively taking risks to the table and positioning for a decline in BTC prices.
Coinglass data shows $ 350 million in 24-hour fluids, with 24-76 split between longs and shorts. ETH ($ 130 million), BTC ($ 52 million) and Sol ($ 37 million) leaders in terms of notional liquidations. Binance’s Liquidation heatmap indicates $ 113,000 as a level of primary extermination to monitor, in the event of a price increase.

Movements in the market

BTC has climbed 2.54% from 4 pm et Friday at $ 112,164.29 (24hrs: +2.49%)
ETH reached 3.1% to $ 4,136.88 (24hrs: +3.38%)
CoinDesk 20 climbed to 2.76% to 3,985.34 (24hrs: +3.2%)
Ether CESR Composite Staking Rate drops 9 bps to 2.81%
BTC funding rate is at -0.0012% (-1.2855% annual) in Binance

DXY drops 0.19% to 97.96
Gold futures reached 0.76% to $ 3,838.10
Silver futures reached 0.73% to $ 46.99
Nikkei 225 closed 0.69% to 45,043.75
Hang Seng closes 1.89% to 26,622.88
FTSE reached 0.58% to 9,338.77
Euro Stoxx 50 reached 0.14% to 5,507.35
DJIA closed on Friday to 0.65% to 46,247.29
S&P 500 closed 0.59% to 6,643.70
The Nasdaq Composite closed 0.44% to 22,484.07
The S&P/TSX Composite closed 0.1% to 29,761.28
S&P 40 Latin America closed 0.43% to 2,920.80
US 10-year Treasury Rate dropped 4.4 bps to 4.143%
E-Mini S&P 500 futures are up to 0.51% to 6,730.75
E-Mini Nasdaq-100 Futures reached 0.64% out of 24,885.75
E-Mini Dow Jones Industrial Average Index is up to 0.4% to 46,741.00

Bitcoin stats

BTC Dominance: 58.61% (0.11%)
Ether in bitcoin ratio: 0.03687 (-0.16%)
Hashrate (seven-day moving average): 1,051 eh/s
HASHPRICE (spot): $ 49.78
Total Fees: 2.19 BTC / $ 241,364
CME Futures Open Interest: 134,900 BTC
BTC is priced at gold: 29.6 oz
BTC vs Gold Market Cap: 8.35%

Technical analysis

Ether backed from the 100-day exponential transfer of average, re-reclaiming the soil above the basic psychological level of $ 4,000. While this recovery signal is elastic, the short-term trend remains tilted to the downside, along with the 50-day eme-currently close to $ 4,210-acting as immediate objection.
For the bullish momentum to build, merchants will watch closely to see if the ETH can continue to respect weekly support and establish a reception above the recent weekly swing swing.

Crypto equities

Coinbase Global (Coin): Closed Friday at $ 312.59 ( +1.92%), +2.26% at $ 319.66 in pre-market
Circle Internet (CRCL): closed at $ 126.99 ( +1.87%), +1.98% at $ 129.50
Galaxy Digital (GLXY): closed at $ 30.90 (-3.78%), +3.27% at $ 31.91
Bullish (BLSH): closed to $ 62.59 ( +1.23%), +1.9% to $ 63.78
Mara Holdings (Mara): closed to $ 16.13 ( +0.37%), +2.67% at $ 16.56
Riot Platform (RIOT): Closed at $ 17.69 ( +5.68%), +3% at $ 18.22
Core Scientific (Corz): closed at $ 16.85 ( +0.06%), +2.08% at $ 17.20
CleansPark (CLSK): closed to $ 12.96 (-5.26%), +3.16% at $ 13.37
COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): Closed to $ 40.61 (-3.68%)
Exodo Movement (EXOD): Closed at $ 28.51 (-1.35%), +2.81% at $ 29.31

Crypto treasury companies