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07/06 11:10

Crypto bounces back from the brink as altcoin opti

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #TradFi Trading Strategies Sharing Challenge Crypto bounces back from the brink as altcoin optimism returns despite pockets of weakness Bitcoin $BTC$62,788.28 is trading at $62,800 on Monday, a notable turnaround from July 1 when it dipped below $58,000 to its lowest level since September 2024 and raised concerns of a slide toward $50,000. Ether ($ETH) staged a similar recovery, trading at $1,760 after bottoming out around $1,550 last week. The two largest cryptocurrencies spiked higher at Sunday's futures open, but have given back around 1% of those gains since midnight UTC. The pullback represents a divergence from traditional markets, where Nasdaq 100 and S&P 500 index futures are trading up 1% and 0.5%, respectively, following the long weekend. The altcoin market is split. Lighter ($LIT) continues to impress, now up more than 50% over the past week, while MORPHO$1.9001 and ADA$0.1824 are both nursing losses of around 4% in the past 24 hours. Derivatives positioning The futures market is steady, with open interest in bitcoin $BTC$62,788.28, ether ($ETH), solana (SOL) and $XRP ($XRP) largely unchanged over the past 24 hours, likely due to the extended U.S. weekend. Open interest in LTC$44.71 has jumped to 7.14 million tokens, the most since May 12. It is unclear whether the capital inflow is bullish or bearish. Key indicators are sending mixed signals: Positive funding rates point to bullish sentiment, yet the 24-hour cumulative volume delta (CVD) has turned negative, indicating sellers have been more aggressive by hitting market orders rather than posting passive limit orders. Open interest in Lighter DEX’s $LIT token is also rising, reaching one-month highs as the bullish tokenomics overhaul supports its price. Bitcoin's and ether’s 30-day implied volatility indices, BVIV and EVIV, remain under pressure after double-digit weekly declines, reflecting continued suppl
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