BTC traded within a well-defined range as polkadot and uniswap rallied, cosmos slid.
DOT jumped 21% ahead of March’s 50% reward cut. UNI rose 15% on a governance vote to boost revenue capture.cooled off in Asia hours on Thursday, trading at $68,600 after testing $70,000 during a ferocious U.
S. session on Wednesday. As February draws toward a close, the largest cryptocurrency remains in a trading range that has persisted since early in the month, having tested $62,500 on Tuesday and $71,100 to the upside on Feb. 15. It's worth noting that bitcoin broke a similar trading range to the upside in January, trapping breakout traders before the price tumbled from $98,000 to $60,000 over the subsequent three weeks, forming a lower high in this recent bearish cycle. A few tokens outshone the broader altcoin market. HYPE is up 4.3% since midnight UTC as it moves back toward $30, while privacy token decred rose to its highest since November after adding 4%.Total crypto futures market open interest has increased by over 6.6% to nearly $100 billion. This is bigger than the increase in the total crypto market cap, indicating there's been an influx of fresh capital into the market. ADA and ETH futures stand out with OI increases of 21% and 15%, respectively. Several other altcoins have seen increases of 9%.BTC and ETH's 30-day implied volatility indices, BVIV and EVIV, remain near weekly lows, indicating market calm and supporting continued price gains. Annualized perpetual funding rates for most tokens, including bitcoin and ether, have stabilized to slightly above zero, indicating a renewed bias for bullish, long bets. On Deribit, bitcoin's price bounce triggered demand for call options at strikes ranging from $85,000 to $90,000. However, the overall options market continues to show a bias for puts, a sign that downside reservations still linger.posted a 21% gain over the past 24 hours. While the move petered out in European hours, investors are showing appetite ahead of the, which lost more than 6%, with the selloff continuing into European hours. There is no clear bearish catalyst for the move, which reflects persistent altcoin vulnerability due to a lack of liquidity.and ether rose by around 8.5% since Wednesday morning. The moves were intriguing because open interest for both assets increased, suggesting they was backed by leverage as opposed to spot buying, according toSTRC briefly touched its $100 par value on Wednesday.19 hours ago
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