# Сопутствующие статьи по теме ETF

Новостной центр HTX предлагает последние статьи и углубленный анализ по "ETF", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Glassnode's New Year Report: $95,000 Call Option Premiums Signal Bulls Shifting to Aggressive Offense

Bitcoin enters 2026 with a clearer market structure following a significant year-end correction. Profit-taking pressure has eased, and risk appetite is gradually recovering. However, sustaining an upward trend requires reclaiming key cost basis levels. On-chain data shows reduced selling pressure, but substantial resistance remains from investors who bought near previous highs, particularly in the $92.1k–$117.4k range. A crucial signal for trend reversal would be the price sustaining above the Short-Term Holder cost basis of ~$99.1k. Corporate treasury demand for Bitcoin but remains sporadic and price-sensitive, acting as a stabilizer rather than a sustained driver. U.S. spot Bitcoin ETFs have resumed net inflows, and futures open interest is rebounding, indicating returning institutional participation. The options market underwent a major reset with over 45% of open interest expiring at year-end, removing structural hedging constraints. Implied volatility likely bottomed, and skewness is normalizing as demand shifts from puts to calls. Market makers are now net short in the $95k–$104k range, meaning their hedging could amplify upward moves. Premium activity around the $95k call strike shows holders are patient, not quick to take profits. Overall, the market is transitioning from defensive deleveraging to selective risk accumulation, entering 2026 with improved structure and resilience.

marsbit01/09 06:40

Glassnode's New Year Report: $95,000 Call Option Premiums Signal Bulls Shifting to Aggressive Offense

marsbit01/09 06:40

The Devoured Middle Ground: Will Web3's Endgame Become Just Another Wall Street Table?

The article "The Devoured Middle Ground: Will Web3 End Up as Just Another Wall Street Table?" argues that the initial revolutionary vision of Web3—decentralizing finance and replacing traditional systems like Nasdaq with blockchain—is being overtaken by traditional finance (TradFi). A pivotal moment occurred on November 10, 2023, when CME's Bitcoin futures open interest surpassed Binance's, signaling a shift in liquidity and influence. The core issue is asymmetric "compliance cost": TradFi institutions (e.g., CME, BlackRock) can easily enter crypto by listing Bitcoin derivatives with minimal marginal cost, leveraging existing infrastructure, licenses, and regulatory relationships. In contrast, crypto-native firms face insurmountable barriers when attempting to tokenize traditional assets like stocks, due to prohibitive regulatory requirements, securities laws, and compliance risks—exemplified by FTX's failure. The approval of Bitcoin ETFs in 2024 accelerated this trend, enabling large institutional players (pension funds, hedge funds) to gain exposure without direct crypto custody concerns. Liquidity and pricing power are shifting from offshore, less-regulated exchanges to compliant TradFi venues. Crypto is being stripped of its ideological attributes and reduced to a pure, volatile financial asset within traditional portfolios. The conclusion is that Web3's financial layer, especially secondary trading, will likely be absorbed into TradFi, with blockchain remaining primarily for asset generation and settlement. The real alpha will follow liquidity, which is flowing back to Wall Street.

marsbit01/09 03:07

The Devoured Middle Ground: Will Web3's Endgame Become Just Another Wall Street Table?

marsbit01/09 03:07

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