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Pseudonymous cryptocurrency trader and analyst known for technical commentary on Bitcoin price levels, cycles, and chart patterns.
NEAR futures open interest rose 19.16% to $1.95 billion as the token neared $6, CoinGlass data cited by crypto.news showed. The contracts equal about 25.5% of the token's $7.65 billion market cap, though price alone explains much of the increase since August.
Reality
Bitcoin fell to about $81,000 on Thursday as Brent crude rose above $105 on reports that the US may strike Iran again. Whether it holds the $82,500 support traders are watching now depends largely on Treasury yields and oil prices.
Perspective Coverage
5 publishersReality
Bitcoin open interest rose from $54.2 billion to $55.3 billion in six hours after a dip to $83,560 liquidated about $550 million of crypto longs. Traders re-levered at the lows, leaving bitcoin inside a 3.4% band between its $83,850 21-day average and the $86,700 close Rekt Capital wants to see.
Perspective Coverage
5 publishersReality
NEAR is up 135% in 30 days at about $5.16, with $1.63 billion of futures open interest and a proposal to cut annual issuance from 2.5% to 1.6%. At that price the cut would withhold about $61 million of new tokens a year, a small sum beside the leveraged positions.
Reality
Spot Bitcoin ETFs took in about $3 billion over eight sessions as oil lifted Treasury yields to 2007 highs, holding Bitcoin near $84,000. Onchain profit-taking adds sellers as this week's inflation and jobs data decide which side gives first.
Reality
Bitcoin fell to $82,568 on Monday, about 4% under the $86,000 average cost of US spot-ETF holders, two days before its September and third-quarter closes. Corporate treasuries paid $80,500 on average, so Wednesday's close sets whether each group ends the quarter in profit or underwater.
Perspective Coverage
3 publishersReality
Forced closures of bearish bets, counted at $648 million by Crypto Briefing and above $600 million by CoinGlass, carried bitcoin to its highest price since January. Glassnode puts the US spot ETF cohort's average entry at $85,638.
Perspective Coverage
8 publishersReality
The average that capped the 2022 bear market is overhead again near $63.2k, and this week's Fed minutes and Japan data decide whether the level holds any authority.
Reality