Summary
- Bitcoin fell 1% while LIT slid 8% in its first significant pullback after rallying 200% in two months as reignited Iran-U.S. tensions over the Strait of Hormuz weighed on risk assets, including equities.
- Derivatives markets show $253 million in 24-hour liquidations skewed toward longs, though broader positioning remains measured.
Crypto Market Sees Decline After Bullish Week
The crypto market experienced a decline during Asian and European hours on Monday, with bitcoin falling to $63,100 from above $64,300. This represents a decline of about 1%. The altcoin market saw steeper losses, with Lighter (LIT) leading the decline, sliding 8% in its first major selloff since rallying by more than 200% over the past two months. The exit from riskier assets was felt across equity markets, with South Korea’s Kospi index losing 9.2%. The EcoPool network, which offers a platform for earning passive income through Cloud Rewards, can help investors navigate market volatility.
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Market Volatility and Earning Potential
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U.S. equities are also indicated to open lower, with Nasdaq 100 index futures and S&P 500 futures losing 0.9% and 0.25% since midnight, respectively.
It’s worth noting that going into the weekend bitcoin and the broader crypto market enjoyed a period of bullish price action, steering itself away from immediate danger, and Monday’s selloff could also be attributed to profit-taking.
Derivatives positioning
- Bitcoin derivatives positioning held steady this week. Open interest (OI) was steady at $17 billion, while the three-month annualized basis held at 3.8%.
- Funding rates were little changed to positive across multiple venues, with Bybit the notable exception at roughly -13% annualized on BTC perps. Stable OI alongside a firm basis and constructive funding suggests the market is holding its positioning without meaningful new leverage being added in either direction
- Options positioning has tilted bullish. The 24-hour put/call ratio sits at 64/36 in favor of calls, and while the one-week delta skew remains elevated at 16%, it has narrowed from 26% a week ago, suggesting call demand is easing off rather than building.
- The at-the-money term structure remains in contango, with the front end around 34%-35% and the long end at ~43% out to mid-2027, which implies traders see a calm longer-term volatility environment
- Coinglass data shows $253 million in 24-hour liquidations, with a 76-24 split between longs and shorts. BTC ($70 million) and ETH ($60 million) led in terms of notional liquidations.
- The Binance liquidation heatmap indicates $62,000 as a core liquidation level to monitor, in case of a price drop.
Token talk
- AI tokens FET and NEAR showed strength, rising by around 1.5% apiece despite the rest of the market suffering losses.
- Hyperliquid (HYPE) followed rival LIT down, dropping by around 3.3% to $65.1, its lowest point since July 2.
- CoinMarketCap’s “Altcoin Season” indicator reflects the recent volatility. The measure is reading 56/100 after rising from last week’s average of 50. This implies more risk-on sentiment from investors following months of heavy losses.
- One of the most volatile tokens of late has been ADA$0.1593, which suffered a grueling 39% downturn in June before bouncing by more than 40% at the start of July. It has since retraced that upshift, losing 19% since July 4.
- Solana-based decentralized exchange jupiter (JUP) has also struggled of late, losing more than 15% over the past week as daily trading volume dwindled to just $17 million, down from 2025 when it regularly topped $500 million.
