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Mr.Arshman

06/21 15:20

$39B returns to crypto markets – Bitcoin’s macro r

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Optimism around U.S. Secretary of State Marco Rubio-led ceasefire talks lifted risk sentiment across crypto markets. The talks followed a reported agreement between the U.S. and Iran on a 60-day ceasefire framework. Both sides retained the option to extend it through mutual agreement. Amid the development, the total crypto market cap increased by roughly $39 billion, up 1.37%, and stabilized near $2.19 trillion. Bitcoin [BTC] reclaimed the $64,000 level at press time. Ethereum [ETH] also showed signs of recovery and traded around $1,723. However, average daily trading volume remained below normal levels at $52 billion to $55 billion. That suggested conviction remained limited despite the rebound.As markets recovered, traders gradually rebuilt exposure through derivatives. Open Interest stood at roughly $108 billion over the past 24 hours. The rise in Open Interest suggested participants positioned for further upside. Even so, overall sentiment remained cautious rather than aggressive. Funding Rates stayed near neutral to slightly positive, indicating longs paid only a modest premium to maintain positions. Meanwhile, the Long/Short Ratio remained balanced, with longs at 50.35% and shorts at 49.65%.Liquidations also eased to roughly $146 million after earlier volatility flushed weaker positions. That pointed to improving risk appetite. Even so, leverage appeared to rebuild faster than conviction. This left traders focused on whether stronger Spot demand and fresh capital inflows would emerge. Despite improving derivatives positioning, Spot demand remained subdued. Volumes stabilized following last week’s decline but remained well below levels typically associated with a sustained trend reversal. In addition, Spot Taker CVD remained slightly negative to neutral across most exchanges. Buyers continued to struggle for decisiv
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