CME BTC Futures Open Interest Drops, Then Rises to $5.64 Billion
Institutional investors have been reshuffling their positions in CME BTC futures, causing open interest to fall to $4.97 billion, the lowest level since early March. However, OI has since risen to $5.64 billion, reflecting an increase in interest in long positions. This move suggests that asset managers are reducing their positions due to volatility but are still in a stronger position compared to last year. In contrast, hedge funds’ OI in CME ETH futures has fallen to a yearly low, while asset managers’ interest in ETH remains strong.
RFK Jr.’s Aide Reveals ‘Unity Party’ Idea With Trump
Nicole Shanahan, an aide to 2024 independent presidential candidate Robert F. Kennedy Jr., suggested forming a possible “unity party” with former President Donald Trump during an interview. Shanahan, who denied rumors that she would team up with Kamala Harris, discussed the benefits of joining forces with Trump. She also touched on pressures from the Democratic National Convention and challenges such as ballot access. The move could impact the 2024 election, especially in the context of cryptocurrency policies.
Bitcoin Options Tied to US Election Attract Nearly $350 Million in Open Interest
Investors have invested around $350 million in Bitcoin options, speculating on the impact of the US elections on the crypto market. The majority of open positions are in call options, indicating a positive market outlook. Popular strike prices are around $80,000. The concentration of these options indicates that investors are positioning for possible new highs, while the presence of lower-priced puts indicates some hedging. This movement suggests that the market is expecting significant price movements during the election period.
Bitcoin Wallet Reactivated After 10.8 Years
A Bitcoin wallet that had been dormant for nearly 11 years has moved 24 BTC, turning a $10,915 investment into $1.45 million. The reactivation has sparked interest in the crypto community, raising questions about whether the wallet was intentionally held or newly discovered. Despite the significant gain, the move is not expected to have a major impact on the Bitcoin market. The incident highlights the potential gains of long-term investment in Bitcoin and the unpredictable nature of the cryptocurrency market.
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BITCOIN (BTC)
BTC is priced at $59,400 with a 0.64% increase in value as of the morning hours. An increase of up to $61,500 was achieved, but it could not be sustained here either. A pullback to $56,000 was observed. There seems to be an instant reaction from this region. If the downward movement continues, $56,000 seems to be the strongest support position. The $62,500 region also appears as strong resistance.
ETHEREUM (ETH)
ETH is priced at $2593 with a 0.79% increase in value as of the morning hours. There was an increase from $2150 to $2700. Permanence could not be achieved at this level. In pullbacks, $2400 seems strong after $2500. If a breakdown occurs below the $2400 level, pullbacks to $2200 may be seen. If $2780 is broken upwards, pricing up to $3000 may be seen.
RIPPLE (XRP)
XRP is priced at $0.5963 with a 0.40% increase in value as of the morning hours. It rose to $0.65 due to the news, but it was not permanent. In pullbacks, a pullback to $0.54 may occur. In prices above $0.60, increases to $0.70 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $23.17 with a 4.04% increase in value as of the morning hours. It was able to rise from $17.30 to $22.83. It works as resistance between $23 and $24. In pullbacks, $20 and $18 appear as strong support areas. In prices above $23, an increase of up to $25 may be seen.
SOLANA (SOL)
SOL is priced at $143.25 with a 0.69% gain as of the morning hours. After the rise from $112 to $164, the pullback seems to have stopped. In case the pullback occurs again, $128 is a strong support. As for resistance, $158 seems strong for now.
OUNCE GOLD
The ounce of gold is priced at $2516 with a 0.06% increase in value as of the morning hours. ATH was renewed again yesterday. $2535 is now our first resistance zone. ATH may be renewed again if there is a break above this level. The $2508 and $2500 range seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $29,552 with a 0.41% increase in value as of the morning hours. A $29.10 breakout occurred and a retest was given. In the continuation of the rise, an increase of up to $30.73 may occur. In pullbacks, 29 and 28.70 appear to be strong supports.
