Crypto today: Bitcoin, Ethereum’s upcoming $10 billion options expiry renews optimism among traders
Source Fxstreet
- Bitcoin, Ethereum’s 25% options are set to expire in the money on Friday, setting the tone for a bullish July.
- Bitcoin is struggling to break past the resistance at $62,500, trading at $61,442 on Wednesday.
- Ethereum and XRP prices are nearly unchanged in the past 24 hours, trading at $3,377 and $0.4739 respectively.
Crypto update:
- BTC/USDT is trading at $61,442 early on Wednesday, nearly unchanged in the past 24 hours. The largest asset by market capitalization has wiped out nearly 6% in the past seven days. Bitcoin has been in a choppy zone, directionless, and traders look to Friday’s option expiry for hints on what to expect from BTC.
Bitcoin steadies around $61,000 after liquidations on Defi platforms exceed $1 million
- ETH/USDT is trading at $3,377, up nearly 0.2% on the day. The altcoin has sustained above key support with the optimism surrounding the expected approval of the Spot Ethereum ETF.
Analysis shows Ethereum ETFs could impact the market with $15 billion net flows by 2025
- XRP/USDT is trading at $0.4739 at the time of writing. The altcoin is down nearly 0.40% in the past 24 hours. XRP’s social dominance is at its highest level since April 2024, as the altcoin’s relevance has increased among traders.
Ripple CEO Brad Garlinghouse slams SEC Gary Gensler for his remarks on crypto, XRP extends losses
- Meme coins and Artificial Intelligence (AI) categories of tokens noted surges in their market capitalization. Meme coins added nearly 6% to their market capitalization, pushing it to $50.89 billion. AI tokens added 3% to their market cap in the same timeframe, up to $29.54 billion.
- Luuk Strijers, CEO at Deribit, told Coindesk that over 25% of Deribit's open interest is set to expire this Friday, “in the money,” meaning the asset has already surpassed the strike price.
Chart of the day:
WIF/USDT daily chart
Dogwifhat (WIF) is trading at $2.0484, down 1% in the past seven days. The Moving Average Convergence Divergence (MACD) shows decreasingly shorter red histogram bars, and MACD is close to crossing above the signal line, a bullish sign for WIF.
WIF is likely to rally towards the lower boundary of the Fair Value Gap at $2.3281, a 14% rally. The meme coin could drop to support at $1.699.
Market updates:
- German government Bitcoin transfers continue, with another 750 BTC moving early on Wednesday. The following transfers were tracked by Spotonchain:
- 125 BTC moved to Kraken
- 125 BTC moved to Bitstamp
- 500 BTC moved to wallet “139PoPE1bK”
- 0.001 BTC sent to Flow Traders (likely a test transaction)
- In the past week, the German government has transferred 4,250 BTC worth $271.3 million at an average price of $63,828.
- Bitcoin ETF net inflow turned positive after seven consecutive days of outflows. $31 million flowed into Bitcoin ETFs.
30-day net inflow of Bitcoin ETFs
- Bitcoin Fear and Greed Index climbed from 30 to 46, but still remains within the “fear” zone.
Fear and Greed Index
Industry updates:
- zkSync, a Layer 2 network, announces the launch of the interoperability layer Elastic Chain to compete with Polygon’s AggLayer. Polygon is currently the largest Ethereum scaling solution in the ecosystem.
- Coin98 wallet announces support for .shib names from an identity service for the top web3 communities.
WOOF! @coin98_wallet now lets you send, receive, and store your favorite crypto & NFTs using your Viction, Core, or Shib Names!
— Shib (@Shibtoken) June 26, 2024
Who's rocking a $SHIB Name already? Let's see those epic handles in the comments! #ShibArmy https://t.co/CMGE5eDKHO
- DEXScreener, a DeFi analytics tool, announced the launch of its meme coin decentralized application (DApp) Moonshot.
Moonshot does not have an X account, don't fall for scams. Steady lads, more to come!
— DEX Screener (@dexscreener) June 24, 2024
DEX Screener just launched their own Memecoin dApp!
— 0xNobler (@CryptoNobler) June 25, 2024
Missed the early days of PumpFun? Don't waste your second chance to make millions on Moonshot!
The most complete guide on how to find the next x100 before everyone else pic.twitter.com/FVTiMEzHe5
The top 3 gainers on Wednesday are Fetch.ai (FET), Notcoin (NOT) and SingularityNET (AGIX), up 10%, 8.5% and 9%, respectively, in the past 24 hours, per CoinGecko data.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.
Bitcoin lost its 200-day average — but the exit started three sessions before the CPIBitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
Bitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
Nvidia slid 7.7% after hours while AMD and Broadcom rose — the AI trade changed hands, it didn't breakNvidia closed Wednesday at 173.73, up 2.87%, then fell as much as 8.1% to 159.44 after reports that its board was preparing for a possible leadership change. The same session, the Philadelphia Semiconductor Index rose 5.7% with all 30 components higher, CoreWeave jumped 24.7% on 168% revenue growth, and Micron added 11.9%. If AI demand were being repriced, AMD and Broadcom would not be bid. This is a governance discount on one name, and 204.54 — the 200-day average — is the level that settles it.
Nvidia closed Wednesday at 173.73, up 2.87%, then fell as much as 8.1% to 159.44 after reports that its board was preparing for a possible leadership change. The same session, the Philadelphia Semiconductor Index rose 5.7% with all 30 components higher, CoreWeave jumped 24.7% on 168% revenue growth, and Micron added 11.9%. If AI demand were being repriced, AMD and Broadcom would not be bid. This is a governance discount on one name, and 204.54 — the 200-day average — is the level that settles it.
Gold hit a one-year low while central banks bought 321 tonnes — the sellers were never the ones you thinkSpot gold closed at 3,876 on Thursday, down 2.8% and its lowest close in more than a year, with an intraday low near 3,852. The dollar is at a 19-month high of 103.21 and the 10-year yield is at 5.10%, so the price move is easy to explain. What is harder to explain is who sold: central banks bought 321 tonnes in Q3, the PBoC added for a 24th straight month, ETF holdings are near a record 4,256 tonnes, and roughly 95% of the futures selling came from non-reportable and sovereign-type accounts rather than hedge funds. This piece separates the two books that have to balance.
Spot gold closed at 3,876 on Thursday, down 2.8% and its lowest close in more than a year, with an intraday low near 3,852. The dollar is at a 19-month high of 103.21 and the 10-year yield is at 5.10%, so the price move is easy to explain. What is harder to explain is who sold: central banks bought 321 tonnes in Q3, the PBoC added for a 24th straight month, ETF holdings are near a record 4,256 tonnes, and roughly 95% of the futures selling came from non-reportable and sovereign-type accounts rather than hedge funds. This piece separates the two books that have to balance.
Brent rose 3.3% and US crude stocks built 4.66 million barrels in the same weekBrent January settled at 95.82, up 3.3%, and WTI at 88.74, up 2.55%, after the US signalled it would not pursue a deal with Iran and attacks on Gulf shipping continued. In the same week, EIA data showed US crude inventories rising 4.657 million barrels against expectations of a 1.1 million draw, with gasoline up another 1.799 million. OPEC output also rebounded 1.96 million barrels a day to 27.16 million in October, led by Saudi Arabia at 10.56 million. This piece separates the geopolitical premium from the physical balance and lays out where each side of the trade is anchored.
Brent January settled at 95.82, up 3.3%, and WTI at 88.74, up 2.55%, after the US signalled it would not pursue a deal with Iran and attacks on Gulf shipping continued. In the same week, EIA data showed US crude inventories rising 4.657 million barrels against expectations of a 1.1 million draw, with gasoline up another 1.799 million. OPEC output also rebounded 1.96 million barrels a day to 27.16 million in October, led by Saudi Arabia at 10.56 million. This piece separates the geopolitical premium from the physical balance and lays out where each side of the trade is anchored.
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