Crypto Majors and Rose on Tuesday as the market begins to consolidate after Monday’s improvement.
Bitcoin trades for $ 112,900, while ether is $ 4,150, adding 0.78% and 1.1% over the past 24 hours, respectively, when Futures Open interest raned from $ 29 billion to $ 31 billion in a sign of Bullish Bias.
Much of Tuesday’s activity occurs in the Altcoin sphere, with newly developed decentralized Exchange Aster, which raised $ 64 billion in daily trading volume when dealers rush to use the platform that offers up to 300x leverage.
Derivatives Location
By Jacob Joseph
- The market shows signs of a potential shift back to a bullish bias, as derivatives, including open interest and basis, show a pickup.
- Overall, BTC Futures Open Rent rose to approx. $ 31 billion from a recent monthly low of $ 29 billion. This increase indicates a renewed interest from dealers where Binance still leads to $ 12.7 billion.
- The three-month annual basis is also recovering and climbing to 7% from approx. 6%, which makes the basis for acting more profitable.
- BTC Options Market still presents a complex and somewhat conflicting image.
- While the 25 Delta Skew for short-term options continues to fall, which suggests that dealers pay a prize to put and signal a desire for downside protection, 24-hour put-call binding tells another story.
- In a clear reversal of the recent trends, calls now dominate volume, which amounts to 65% of the traded contracts. This sharp increase indicates that despite the cautious mood reflected in the skew, a significant number of dealers actively place a short -term rally.
- This divergence highlights a very polarized market where a mixture of cover strategies and speculative efforts creates a state of mixed mood.
- Financing rates at larger venues such as Binance and OKX have become positive and increase to approx. 7% and 10%. This indicates a growing appetite on geared long positions where long dealers now pay shorts, a classic sign of positive market mood.
- While the funding rate of Hyperliquid remains unstable, the trend of key exchanges suggests that dealers again become safe and willing to take on bullish exposure
- Coinglass data shows $ 316 million in 24 hours of liquidation with a 44-56 split between along and shorts. ETH ($ 73 million), BTC ($ 70 million) and others ($ 29 million) were leaders in terms of nominal liquidation. Binance -Liquidation Heat Card indicates $ 115,000 as a core liquidation level to monitor, in the event of a price increase.
Token Talk
By Oliver Knight
- The derivatives exchange match between Aster and Hyperliquid is heated.
- Daily trade volume at BNB chain-based aster has rocked $ 64 billion, dwarf Hyperliquids $ 7.6 billion, defillama data shows.
- According to Boltliquidity Core contributor Max Arch is due to the shift Aster’s offer of between 100x and 300x leverage. Hyperliquid markets are mainly closed to 40x.
- “Dealers follow the gearing, regardless of underlying platform quality, but we will see how the increased risk that comes with higher leverage caps affect platforms like Aster in the long term,” wrote Arch on X.
- Arch notes that about 6% of Aster’s trading volume can be attributed to washing trade far less than some skeptics had estimated.
- The exchange’s native tokens, aster and hype have worked poorly over the past week; With the previous sliding from $ 2.39 on September 25 to $ 1.80, while hype is down from 18th September height of $ 58.92 to $ 44.32.
- The bearish token performance in relation to trading activity can be attributed to a wider Altcoin sale that led to the removal of $ 200 billion from the overall market capital of the sector last week, according to CoinMarketcap data.
