Latest news with #Amberdata
Yahoo
09-07-2025
- Business
- Yahoo
Key Market Dynamic Keeps Bitcoin, XRP Anchored to $110K and $2.3 as Ether Looks Prone to Volatility
Bitcoin (BTC) and XRP (XRP) are trading sideways, which is likely being driven by a hidden force that's keeping both cryptocurrencies anchored to key price levels. However, the same "price magnets" might add to the ether (ETH) market volatility. We are talking about market makers – entities tasked with creating liquidity in an exchange's order book. These entities are always on the opposite side of traders/investors and make money from the bid-ask spread, while constantly striving to maintain a price-neutral exposure. Their hedging strategies in futures/spot markets often add to or curb volatility in the market. In BTC's case, options market makers are "long gamma" at strikes $108,000 and $110,000, according to Deribit-listed options activity tracked by Amberdata. The position indicates that market makers hold long options (calls and puts), which stand to benefit from potential volatility. As such, market makers are likely trading against market movements – selling high and buying low – to maintain the direction-neutral book, effectively keeping BTC pinned in the $108,000-$110,000 range. BTC's price has mostly traded the said range this month, according to CoinDesk data. A similar dynamic seems to be playing out in the XRP market, where a large positive market maker gamma build up is observed at the $2.30 strike price. That calls for maker makers to buy low and sell high around that level capping volatility. Ethereum's native token ether, the second-largest cryptocurrency by market value, hit a high of $2,647 early today, the level last seen on June 16. The move has pushed ether into a "negative market maker gamma" zone of $2,650-$3,500. When dealers hold negative gamma, they tend to trade in the direction of the market, exacerbating bullish/bearish moves. In other words, their hedging activities could add to ether's bullish momentum, exacerbating volatility, assuming other things being equal.
Yahoo
08-07-2025
- Business
- Yahoo
Stone Cold BTC Drains Bull Mood From Long-Term Options: Crypto Daybook Americas
By Omkar Godbole (All times ET unless indicated otherwise) It's said that price is the best measure of appeal of any asset. To the dismay of bitcoin (BTC) bulls, the largest cryptocurrency's price hasn't gone anywhere in over 50 days, trading directionless above $100,000. That stagnation has, unusually, eroded the call bias in long-term options. Risk reversals derived from Deribit-listed options expiring in June next year are nearly zero, indicating that calls (bullish) and puts (protective) are trading at similar levels. Historically, long-term risk reversals have tended to be positive, indicating a bias for calls. "This [risk reversal] could easily go negative as BTC continues to see downside 'risk-off' volatility only," Greg Magadini, director of derivatives at Amberdata, said in an email. "Continued institutional structural flows (sell the call, buy the protective put) can also help push this risk reversal negative long-term." Speaking of institutional flows, analysts noted that consistent purchases by Strategy (MSTR) and other companies are failing to offset the general decline in spot demand for BTC. Blockchain analysis has recently indicated that long-term holding wallets are taking profits. Some traders are focusing on next Tuesday's U.S. consumer price data after a decline in July Fed rate-cut odds following Friday's hotter-than-expected jobs report. Meanwhile, pop culture and politics have collided with crypto, as rapper Drake name-dropped bitcoin in his latest track and Elon Musk announced the formation of the America Party, which, he said, would embrace BTC. "These aren't just celebrity endorsements, they're indicators of where the Overton window is shifting," Mena Theodorou, a co-founder at crypto exchange Coinstash, said in an email. "Crypto's cultural relevance is clearly growing, and this kind of mainstream attention, whether from artists or entrepreneurs, tends to filter through to investor confidence over time." In other news, Ethereum co-founder Vitalik and researcher Toni Wahrstätter proposed EIP-7983 to set a new gas limit for transactions on the blockchain. This is aimed at making it resilient to certain denial-of-service (DoS) attacks, improving stability and offering predictable transaction costs. Russia introduced a national registry for cryptocurrency mining equipment, effective today to standardize the use of Bitcoin and Ethereum mining equipment and enhance compliance with regulations. In traditional markets, oil prices dropped early Monday as OPEC increased production, but pared losses later due to a tight physical oil market. Stay alert! Crypto July 9, 11 a.m.: The Isthmus hardfork activates on Celo (CELO) mainnet, an Ethereum layer-2 network, aligning its L2 stack with Ethereum's Pectra upgrade and improving scalability, interoperability and security through key Ethereum Improvement Proposals. July 14, 10 p.m.: Singapore High Court hearing on WazirX's Scheme of Arrangement, marking a critical step in the exchange's restructuring after the $234 million hack on July 18, 2024. July 15: Alchemist (ALCH) staking update launches, allowing token holders to stake ALCH for access to advanced features, premium benefits, and ecosystem rewards, potentially boosting token utility and demand. July 15: Lynq is expected to launch its real-time, interest-bearing digital asset settlement network for institutions. Built on Avalanche's layer-1 blockchain and powered by Arca's tokenized U.S. Treasury fund shares, Lynq enables instant settlement, continuous yield accrual and improved capital efficiency. Macro July 7: Day 2 of 2 of the 17th BRICS Summit (Rio de Janeiro, Brazil). July 7: President Trump meets Israeli Prime Minister Netanyahu at the White House to discuss finalizing a 60-day Gaza ceasefire and staged release of hostages held by Hamas. July 8, 8 a.m.: The Brazilian Institute of Geography and Statistics releases May retail sales data. Retail Sales MoM Prev. -0.4% Retail Sales YoY Prev. 4.8% July 9, 12:01 a.m.: End of the 90-day freeze on U.S. reciprocal tariffs announced on April 2. This marks the deadline for trade partners to finalize agreements to avoid higher duties. Treasury plans to notify countries that have yet to secure deals. July 9, 8 a.m.: Mexico's National Institute of Statistics and Geography (INEGI) releases June consumer price inflation data. Core Inflation Rate MoM Prev. 0.3% Core Inflation Rate YoY Prev. 4.06% Inflation Rate MoM Prev. 0.28% Inflation Rate YoY Prev. 4.42% July 9, 10 a.m.: U.S. Senate Banking Committee holds a hybrid hearing titled 'From Wall Street to Web3: Building Tomorrow's Digital Asset Markets' with CEOs of Blockchain Association, Chainalysis, Paradigm and Ripple testifying. Livestream link. July 9, 2 p.m.: Release of Federal Open Market Committee (FOMC) minutes from the June 17–18 meeting. Earnings (Estimates based on FactSet data) None in the near future. Governance votes & calls Compound DAO is voting on invoking the early termination clause of its 2025 security partnership with OpenZeppelin, giving the required 60-day notice and paving the way for a formal RFP process managed by the Compound Foundation on behalf of the DAO. Voting ends July 7. Polkadot Community is voting on launching a non-custodial Polkadot branded payment card to 'to bridge the gap between digital assets in the Polkadot ecosystem and everyday spending.' Voting ends July 9. Compound DAO is running multiple votes on whether to adopt an Oracle Extractable Value (OEV) solution for Ethereum Mainnet, Unichain, Base, Polygon, Arbitrum, Optimism, Scroll, Mantle, Ronin, and Linea. Delegates can choose between implementing Api3, Chainlink's Secure Value Relay (SVR), or maintaining the current setup without OEV. Voting for all of these ends July 12. Unlocks July 11: Immutable (IMX) to unlock 1.31% of its circulating supply worth $10.28 million. July 12: Aptos (APT) to unlock 1.76% of its circulating supply worth $50.55 million. July 15: Starknet (STRK) to unlock 3.79% of its circulating supply worth $14.51 million. July 15: Sei (SEI) to unlock 1% of its circulating supply worth $14.67 million. July 16: Arbitrum (ARB) to unlock 1.87% of its circulating supply worth $31.13 million. July 18: Official TRUMP (TRUMP) to unlock 45.35% of its circulating supply worth $782.73 million. July 18: Fasttoken (FTN) to unlock 4.64% of its circulating supply worth $88.8 million. Token Launches July 7: OKX to delist trading pairs with Bitcoin SV (BSV), Guild of Guardians (GOG), DIA (DIA), BONE, and Orchid (OXT). The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through July 17. July 10-13: Mallorca Blockchain Days (Palma, Spain) July 16: Invest Web3 Forum (Dubai) July 20: Crypto Coin Day 7/20 (Atlanta) July 24: Decasonic's Web3 Investor Day 2025 (Chicago) July 25: Blockchain Summit Global (Montevideo, Uruguay) July 28-29: TWS Conference 2025 (Singapore) By Shaurya Malwa BonkFun overtook Pumpfun to become the top Solana-based token launchpad, grabbing 55.2% market share. The platform has facilitated over $540 million in volume across 175,000 token launches, generating $34 million in fees. Pumpfun, which debuted in January 2024, now holds a 34.9% share with $341 million in volume, down from a previous dominant position. BonkFun's fee model drives demand: 58% of fees go toward buying BONK, with 50% of that burned and the rest used for rewards and reserves. This structure creates constant buy pressure on BONK, a large-cap memecoin still trading below its peak. At current rates, BONK buybacks could reach hundreds of millions annually, tightening token supply. Smaller rivals like Believe, Jup Studio and Moonshot trail far behind in volume and user traction. BTC open interest (OI) in perpetuals on offshore exchanges has held largely flat in the past 24 hours. For ETH, however, open interest rose alongside positive funding rates, implying a demand for bullish bets. Kucoin has seen over 20% increase in OI in ETH futures. Open interest in XRP perpetuals rose 6% on Sunday, the most in four weeks. Funding rates for BNB, TRX, BCH and XLM remain negative, indicating a bearish sentiment for these tokens. On Deribit, call bias has drained from longer term BTC risk reversals. ETH's June 2026 expiry calls still trade at a slight premium of over 1% to calls. Block flows on Deribit featured BTC call spreads and longs in September and December higher strike BTC call options BTC is up 0.97% from 4 p.m. ET Friday at $108,770.30 (24hrs: +0.71%) ETH is up 2.97% at $2,565.19 (24hrs: +2.21%) CoinDesk 20 is up 2.46% at 3,101.28 (24hrs: +1.46%) Ether CESR Composite Staking Rate is up 5 bps at 2.93% BTC funding rate is at 0.0003% (0.3362% annualized) on Binance DXY is up 0.22% at 97.39 Gold futures are down 0.71% at $3,319.30 Silver futures are down 0.89% at $36.76 Nikkei 225 closed down 0.56% at 39,587.68 Hang Seng closed down 0.12% at 23,887.83 FTSE is down 0.03% at 8,820.67 Euro Stoxx 50 is up 0.37% at 5,308.17 DJIA closed on Thursday up 0.77% at 44,828.53 S&P 500 closed up 0.83% at 6,279.35 Nasdaq Composite closed up 1.02% at 20,601.10 S&P/TSX Composite closed up 0.01% at 27,036.16 S&P 40 Latin America closed on Friday up 0.49% at 2,741.39 U.S. 10-Year Treasury rate is up 1.2 bps at 4.352% E-mini S&P 500 futures are down 0.38% at 6,300.00 E-mini Nasdaq-100 futures are down 0.52% at 22,941.75 E-mini Dow Jones Industrial Average Index are down 0.07% at 45,065.00 BTC Dominance: 65.23% (-0.11%) Ether to bitcoin ratio: 0.02359 (0.21%) Hashrate (seven-day moving average): 880 EH/s Hashprice (spot): $58.92 Total Fees: 4.01 BTC / $435.096 CME Futures Open Interest: 151,005 BTC BTC priced in gold: 32.7 oz BTC vs gold market cap: 9.26% BONK's price has convincingly topped the 200-day simple moving average (SMA) confirming the bullish trend. Prices failed to establish a foothold above the key average in mid-May, which led to a deeper sell-off. The latest breakout has shifted focus to resistance at $0.00002583, the high on May 12. Strategy (MSTR): closed on Thursday at $403.99 (+0.43%), -0.41% at $402.35 in pre-market Coinbase Global (COIN): closed at $355.8 (+0.38%), -0.74% at $353.17 Circle (CRCL): closed at $188.77 (+6.07%), +1.79% at $192.15 Galaxy Digital (GLXY): closed at $21.75 (-2.12%), -0.64% at $21.61 MARA Holdings (MARA): closed at $17.66 (-0.79%), -0.68% at $17.54 Riot Platforms (RIOT): closed at $12.17 (-0.25%), -0.33% at $12.13 Core Scientific (CORZ): closed at $18 (+2.51%), -0.89% at $17.84 CleanSpark (CLSK): closed at $12.25 (-1.84%), -0.57% at $12.18 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $26.03 (+3.5%) Semler Scientific (SMLR): closed at $40.45 (+2.3%), -1.71% at $39.76 Exodus Movement (EXOD): closed at $32.8 (+11.41%, +3.02% at $33.79 Spot BTC ETFs Daily net flows: $601.8 million Cumulative net flows: $49.62 billion Total BTC holdings ~1.25 million Spot ETH ETFs Daily net flows: $148.5 million Cumulative net flows: $4.42 billion Total ETH holdings ~4.16 million Source: Farside Investors The chart shows trading volumes in bitcoin's spot and futures markets have dropped to $5 billion and $31.2 billion, the lowest for both in over a year. Activity typically slows during the summer, often leading to weak order book depth, which makes the market price vulnerable to few large orders. Trump Threatens Extra 10% Tariffs on BRICS as Leaders Meet in Brazil (Reuters): On Sunday, Brazilian President Lula called on BRICS to spearhead institutional reforms, citing rising global instability since the G20 and framing the group as a modern successor to nonaligned powers. Bitcoin Whales Scoop Up BTC as Price Nears Record High in Sign of Growth Expectations (CoinDesk): Glassnode data suggests that large bitcoin holders are accumulating as the price nears $109,000, while smaller investors continue to sell, signaling a supply shift from retail to potentially institutional wallets. Metaplanet Picks Up Additional 2,205 BTC, Holdings Now Cross 15,555 Bitcoin (CoinDesk): Metaplanet's latest bitcoin purchase totaled 34.49 billion yen ($213 million), raising its total investment to 225.82 billion yen at an average price of 14.52 million yen per bitcoin. The Blockchain Group Bolsters Bitcoin Reserves With $12.5M BTC Acquisition (CoinDesk): The firm confirmed acquiring 116 BTC for about 10.7 million euros ($12.51 million), raising its total holdings to 1,904 BTC and achieving a year-to-date BTC yield of roughly 1,348%. China and Russia Keep Their Distance From Iran During Crisis (The New York Times): Alexander Gabuev of the Carnegie Russia Eurasia Center said the Iran crisis showed how Russia and China prioritize self-interest over coordination, lacking the alliances or shared values seen among U.S. partners. Trump and Netanyahu to Meet as New Middle East Tests Loom (The Wall Street Journal): Trump sees Israel-Hamas talks and Iran's recent military and diplomatic setbacks as an opening to pursue Saudi-Israel normalization, though progress hinges on Netanyahu's Gaza war stance and Iran's nuclear position. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-07-2025
- Business
- Yahoo
XRP $3 Bets Dominate Trading Volumes as XRP/BTC's 'Wedge' Suggests Further Rally
Payments-focused cryptocurrency XRP (XRP) has risen by over 3.5% in the past 24 hours, with volume in the Deribit-listed options market suggesting bullish expectations. Since July 1, higher-level July 25 call options at strikes of $3.00 and $4.00 and the Sept. 28 expiry call at the $2.80 strike have emerged as the most traded bets, according to data source Amberdata. A call option gives the buyer the right to buy the underlying asset at a predetermined strike price at a later date. The option represents a bullish view on the market. For instance, the $3 strike call buyer is betting that XRP's spot price will top that level by July 25. On Deribit, one options contract represents one XRP. A closer look at the flows reveals that the higher volume ranking for the $3 calls primarily stems from buy trades. In the past 24 hours, the $3 strike call has seen 2 million contracts change hands in investor buy trades (market makers on the opposite side). Conversely, investors have been mostly sellers or writers in the $2.8 call. The $3 call is also the most popular bet in terms of the increase in open interest, or the number of active or open contracts, in the past seven days. The increased activity in the higher strike calls follows strengthening expectations for a spot ETF debut in the U.S. According to Bloomberg's analysts Eric Balchunas and James Seyffart, the probability that the U.S. SEC will approve a spot XRP ETF now stands at 95% – almost a done deal. On Wednesday, fintech firm Ripple, which utilizes XRP to facilitate cross-border transactions, announced that it has applied for a national banking license at the Office of the Comptroller of the Currency (OCC). "If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market," Ripple's CEO Brad Garlinghouse said on X. XRP's bitcoin-denominated price, represented by the Binance-listed XRP/BTC pair, may be headed higher, having broken out of a falling wedge pattern. The falling wedge is a bullish reversal pattern, characterized by two converging trendlines that indicate a narrowing range of price movement. The converging nature of trendlines suggests that sellers are slowly losing steam. Hence, a subsequent move above the upper trendline is said to confirm renewed bull dominance. XRP/BTC has risen above the upper trendline, confirming the bullish breakout. The pattern indicates that the correction from the April highs has ended and the broader XRP bullish trend has resumed. While the wedge breakout indicates that the path of least resistance is on the higher side, popular averages, 50-day, 100-day and 200-day SMAs disagree. Both the 50- and 100-day SMAs are trending south, having recently crossed bearishly below the 200-day SMA. Note, however, that moving averages are lagging indicators and take backseat to the bullish wedge in to access your portfolio
Yahoo
03-07-2025
- Business
- Yahoo
XRP $3 Bets Dominate Trading Volumes as XRP/BTC's 'Wedge' Suggests Further Rally
Payments-focused cryptocurrency XRP (XRP) has risen by over 3.5% in the past 24 hours, with volume in the Deribit-listed options market suggesting bullish expectations. Since July 1, higher-level July 25 call options at strikes of $3.00 and $4.00 and the Sept. 28 expiry call at the $2.80 strike have emerged as the most traded bets, according to data source Amberdata. A call option gives the buyer the right to buy the underlying asset at a predetermined strike price at a later date. The option represents a bullish view on the market. For instance, the $3 strike call buyer is betting that XRP's spot price will top that level by July 25. On Deribit, one options contract represents one XRP. A closer look at the flows reveals that the higher volume ranking for the $3 calls primarily stems from buy trades. In the past 24 hours, the $3 strike call has seen 2 million contracts change hands in investor buy trades (market makers on the opposite side). Conversely, investors have been mostly sellers or writers in the $2.8 call. The $3 call is also the most popular bet in terms of the increase in open interest, or the number of active or open contracts, in the past seven days. The increased activity in the higher strike calls follows strengthening expectations for a spot ETF debut in the U.S. According to Bloomberg's analysts Eric Balchunas and James Seyffart, the probability that the U.S. SEC will approve a spot XRP ETF now stands at 95% – almost a done deal. On Wednesday, fintech firm Ripple, which utilizes XRP to facilitate cross-border transactions, announced that it has applied for a national banking license at the Office of the Comptroller of the Currency (OCC). "If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market," Ripple's CEO Brad Garlinghouse said on X. XRP's bitcoin-denominated price, represented by the Binance-listed XRP/BTC pair, may be headed higher, having broken out of a falling wedge pattern. The falling wedge is a bullish reversal pattern, characterized by two converging trendlines that indicate a narrowing range of price movement. The converging nature of trendlines suggests that sellers are slowly losing steam. Hence, a subsequent move above the upper trendline is said to confirm renewed bull dominance. XRP/BTC has risen above the upper trendline, confirming the bullish breakout. The pattern indicates that the correction from the April highs has ended and the broader XRP bullish trend has resumed. While the wedge breakout indicates that the path of least resistance is on the higher side, popular averages, 50-day, 100-day and 200-day SMAs disagree. Both the 50- and 100-day SMAs are trending south, having recently crossed bearishly below the 200-day SMA. Note, however, that moving averages are lagging indicators and take backseat to the bullish wedge breakout.
Yahoo
24-06-2025
- Business
- Yahoo
Ether's Leverage-Driven Rally Faces Breakdown Risk, Matrixport Warns
Ether's ETH recent rally may be on shaky ground with one firm warning that last week's price surge was largely fueled by speculative futures positions instead of a bump in organic demand. In a note on Monday, Matrixport opined that 'leveraged traders have pushed [ETH's] price higher in the absence of fundamental support,' adding that this made the asset more susceptible to the 'outsized decline' the asset saw over the weekend. Ether slumped over 8% in a Saturday sell-off, leading losses among majors as traders reacted to the U.S. attack on Iranian nuclear sites in a surprise airstrike. The firm pointed to last week's sharp drop in ETH as evidence of this position-driven fragility and warned that elevated leverage levels could continue to pressure prices. At press time, ETH traded near $2,248 — down from last week's high above $2,400 — as derivatives data showed traders aggressively hedging downside risk. Options market signals echo that caution, as CoinDesk analyst Omkar Godbole noted over the weekend. According to data from Amberdata, ETH's 25-delta risk reversals — a measure comparing the cost of puts versus calls — have skewed negative across June to July expiries. This suggests investors are paying up for protection against downside volatility. QCP Capital further noted in a weekend market update that 'risk reversals in both BTC and ETH continue to show a preference for downside protection,' adding that long holders are actively hedging their spot in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
