Bitcoin and ether trade sideways on weak liquidity as gold and silver rally, highlighting a risk-off rotation that’s also lifting niche crypto tokens.
Bitcoin and ether traded little changed on weak liquidity as gold and silver rallied, highlighting a risk-off rotation that’s also lifting niche crypto tokens.Bitcoin and ether volumes slid more than 20%, keeping prices range-bound with low liquidity and muted volatility.
HyperLiquid’s HYPE, privacy coins and memecoins outperformed even as broader crypto markets were little changed.A decline in volatility can be attributed to general crypto market apathy, which has occurred alongside a euphoria-inducing rally in precious metals. Gold currently trades at $5,085 after making a series of record highs over the past week, while silver is up by more than 57% since the turn of the year as traders flock to haven assets.. That's more than all other assets except bitcoin and ether, although it's worth noting that funding rates are displaying a negative skew to suggest traders are shorting into strength as opposed to buying a potential top. With U.S. President Donald Trump issuing fresh 25% tariffs on South Korea on Monday following a political jousting match with the European Union over Greenland last week, risk-off sentiment may well persist furtherOver $270 million in leveraged crypto futures bets have been liquidated by exchanges in 24 hours, with bearish plays accounting for most of the tally. The figures show traders were positioned for a deeper, market-wide drop following last week's 7% decline in bitcoin and have been caught off guard by the bounce from $86,000 to nearly $88,000. Volmex's 30-day bitcoin and ether implied volatility indices remain near multimonth lows, indicating no signs of panic or fear even as flows and technical charts paint a bearish picture. Open interest in futures tied to Hyperliquid's HYPE token surged by 30% to over 57 million HYPE, nearing December's record high of 57.44 million HYPE. The decentralized exchange is said to have regained market share from rivals Aster and Lighter.Annualized perpetual funding rates for most majors remain moderately positive, a sign of bullish bias, but nothing out of ordinary. Rates for TRX and DOGE have flipped negative, indicating a dominance of shorts. On Deribit, BTC and ETH puts continue to trade pricier than calls, a sign of lingering concerns for a decline. According to some observers, downside protection is now a crowded trade and calls look relatively cheap for those with a bullish market thesis. Bearish directional positioning such as put spreads and volatility bets, straddles and strangles, cumulatively account for nearly 50% of all BTC block trades over 24 hours. In ETH's case, traders preferred the iron condor, a strategy to profit from a potential range-bound market.Impressive volume on the silver futures market has buoyed HYPE, HyperLiquid's native token, by more than 22% in the past 24 hours as trading volume more than doubled to $510 million.increased by 4% and 3%, respectively, since midnight UTC, outperforming bitcoin and crypto majors ETH, XPR and SOL, all of which fell 0.4%-1%. Pump.fun's native PUMP token experienced significant, surging by 14.5% since midnight as traders and token traders attempted to extract value from the memecoin market despite broader market stability. January trading volume on Pump.fun has already surpassed $10 billion, reaching its highest level since June with four days of the month still to go, according to The bitcoin dominant CoinDesk 20 Index is little changed since the start of the year while the CoinDesk 80 , heavily weighted to altcoins, has risen by 3.6%.KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.for the year, signalling broad-based usage rather than reliance on a single product line., reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.Latest Crypto News18 hours ago
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