Bitcoin is lower than 24 hours ago, dropped approx. 0.7%, but still fixed within the interval that has limited it since the last week of August. The fall gets a little more pronounced since Midnight UTC with a drop of approx. 0.9%.
For the wider market, the Coindesk 20 index has fallen 1.3% since midnight, with everyone except a component on the way to the south. XRP is the only token in the green and it is less than 0.1%.
The negative mood is repeated in the markets for opportunities and eternal futures. Perpetual financing rates have dropped and sets options or protection against price drop and dominate over calls. More than $ 4.5 billion in options is set to expire on Friday with the US Job Report for August.
“Open interest is tilted against puts, with remarkable clusters about $ 105,000 to $ 110,000 strikes, suggesting that downward protection is a key theme,” the Derivators Exchange said in a post on X.
Derivatives Location
- BTC derivative positioning has cooled, however, activity is still there with momentum and directional conviction that sees muted rather than stagnant.
- Open interest in eternal future across major venues has fallen from the recent top near $ 33 billion to approx. $ 30 billion.
- At the same time, the three -month annual basis continues to compress to approx. 5% –6% across binance, OKX and abolition, leaving the load -bearing trade only marginally profitable.
- Election data sends mixed signals. While the upward slope that is hinted at volatility curve suggests that the market expects long -term volatility to be higher than short -lived, other measurements point to a more immediate bearish view.
- Specifically, the 25 Delta Skew is still either flat or slightly negative, with dealers paying a prize to put calls to get downward protection. This short-term bearish mood is contradicted by 24-hour put call volume with call (63%) Dominating Options Contracts for BTC.
- Financing frequency APRS across larger perpetual Swap venues changes just about 4% -6% annually, according to Velo data. Hyperliquid is the only exchange at a rate higher than 6% for BTC, reflecting a pocket with stronger long -term interest compared to other exchanges. In general, funding dynamics suggest a stable market with isolated signs of foam rather than broad directional conviction.
- Coinglass data shows $ 225 million in 24-hour liquidation with a 50-50 split between along and shorts. ETH ($ 65million)BTC ($ 46 million) And others (19 million dollars) were the leaders in terms of conceptual liquidations.
- Binance -Liquidation Heat Card indicates $ 110,250 as a core liquidation level to monitor, in the event of a price drop.
Token Talk
By Oliver Knight
- Donald Trump-bound Defi Token Word Liberty Financial (Wlfi) The ink to a record low $ 0.174 Thursday as the token’s popularity begins to fade a few days after its trade debut.
- The 21% daily traits can be attributed to a number of factors, especially the fact that some token holders are still in profit after purchasing during the Token sale. These proprietors will be tempted to lock their profits when the hype around the project fades.
- One trader earned $ 250 million after buying $ 15 million during the sale, another lost $ 2.2 million after gone for a long time on WLFI futures.
- While WLFI is linked to the US president, in terms of development and innovation, there is nothing obvious to differentiate it from the thousands of other defi-themed symbols. As a result, dealers may be inclined to jump ship until they see the development of the project.
- “WLFI -Team, stop sleeping and start intervening. Society is already angry, at least not losing the last remaining investors,” wrote a proprietor of X.
- The chart resembles the trump Memecoin that was released in January. After a period of initial upside, Trump lost 89% of its value and the daily volume dropped from $ 39 billion on opening day to just $ 210 million in the last 24 hours.
- In an attempt to dampen the sales pressure, the project at X revealed that WLFI, as the team held, would not be sold in the open market, stating that any token in the Treasury would be subject to governance and not the team’s estimates.
- The tweet failed to dampen the fall and prices continued to tumble shortly after.
Saksham Diwan contributed to this report.
