Although Bitcoin Having jumped from earlier on the European day, it is still less than 1% over the last 24 hours. With the end of August in touch of distance, the largest cryptocurrency seems to be closed to the month in the red, as it has done in the last three years.
It is still the best August return since 2021, and there are signs of the option market that wins can come before the end of the month.
Bitcoin and Etherma options worth over $ 14.6 billion are set to expire Friday with the “Max Pain” level of $ 116,000. Max Pain is the strike price, where the largest number of options expires worthless, which generally gets the greatest financial pain for option holders and greatest benefits for options as sellers. It is above the current price, so sellers have an incentive to push BTC higher towards this level to minimize their costs.
Coindesk 20 index, a target for the wider market, has added 3.2% over the last 24 hours, and Coindesk 80, which includes a large number of smaller tokens, increased 4%.
In the longer term, Bitcoin’s 200-day sliding average is just crossed over $ 100,000. BTC has traded over the 200-day level since the end of April and emphasizes the strength of its long-term uptrend.
The 200-day moving average is a long-term trend indicator that smooths out price action over about six months, which helps investors distinguish between bullish and bearish market conditions.
Derivatives Location
- Bitcoin open interest (Oi) Across the top derivatives, venues have begun to slip, which is in line with the downward price action in the last few days, suggesting that dealers are actively leaving their geared positions.
- BTC OI is now at $ 30.3 billion, just shy for all the time high at $ 32.6 billion, Velo Data shows. Three-month’s annual basis is still rising and is currently 8%- 9% across all exchanges, suggesting that the basis is still profitable.
- In Settings, Bitcoin’s upward slope of volatility curve suggests that the market expects long -term volatility to be higher than short -term, while other measurements point to a more immediate bearish view.
- Specifically, the recent steps of the 25 delta-skewed to negative territory for mature mature in the short term indicate a clear shift in market atmosphere, where dealers pay a prize for transferring calls to get downward protection.
- The Bearish atmosphere is confirmed by the 24-hour put/call volume, which shows a significantly skewed against sets, another character trader is actively uncovered or speculates in a price drop.
- Financing frequency APRS across large eternal swap venues begins to jump back at approx. 8% -10% annually, according to Velo data.
- BTC annual funding of binance became negative (-0.39%) For a short period of time today before jumping back to approx. 10%. This indicates that although there may have been pockets with Bearish atmosphere, the overall market trend begins to be more supportive of dealers willing to pay a prize to bet on a price increase.
- Coinglass data shows $ 266 million in 24 hours of liquidation, skew 58% against shorts. ETH (99 million dollars)BTC ($ 47 million) and sun ($ 20 million) were the leaders in terms of conceptual liquidations. Binance -Liquidation Heat Card indicates $ 111,593 as a core liquidation level to monitor in the event of a price increase.
Token Talk
- Cronos Defied Tuesday’s Bearish Crypto mood and collected more than 56% after Crypto.com and Trump Media (DJT) said they were planning to set up a Cro Treasury Company of $ 6.4 billion.
- Crypto Treasury — Messages have taken place almost daily in the race (Mstr).
- Still, the price action often fails to match what can be perceived as a bullish event. When verb technology co. (VERB) advertised a private location of $ 558 million to establish a toncoin Treasury, tonnes fell almost immediately by approx. 10%.
- This CRO agreement is different. First, it is tied to Trump Media, a company linked to President Donald Trump, but secondly – and no doubt more important – it gives a use case to the Cronos tokenet, previously used predominantly as an exchange for crypto.com.
- The transaction includes the creation of a new reward system on truth social that allows users to convert the platform’s “pearls” to Cro -Tokens, with additional plans to enable subscription payments and reduced services using CRO.
- Bloomberg noted that Crypto.com CEO KRIS MARSZALEK donated $ 1 million to Trump’s preliminary committee and also visited Trump’s Mar-A-Lago home after the election victory.
- CRO is currently trading with $ 0.225 despite being down to $ 0.141 last week, the news lifted 24 hours of trading volume by 1,300% to more than $ 1 billion when it became a market hire, while Bitcoin and Ether lowered near critical levels of support.
