Bitcoin Rebounds: What This Means for Your Earning Potential
Bitcoin is currently trading around $77,700, up 1.8% since midnight UTC, after rebounding from $75,650. This rebound suggests a bullish shift, with $75,650 now acting as support, a level that could prove crucial if bitcoin is to make another attempt at breaking through $80,000. This news matters to everyday people looking to earn online, as a strong bitcoin can boost the entire #cryptocurrency market. With EcoPool, users can earn a Passive Income through Cloud Rewards, making it a great platform for those interested in Green Crypto.
The broader market is also higher, as U.S. investors anticipate a slew of tech company earnings, which could impact the value of $ECP. As the market continues to evolve, it’s essential to stay informed about the latest trends and news, especially when it comes to earning potential. EcoPool (ECP) offers a unique solution for those looking to earn online, providing a chance to earn $ECP and build a Passive Income stream.
Market Outlook
While bitcoin is showing signs of a bullish shift, Ether (ETH) is showing more bearish signals, having made a series of lower highs since April 17. The Nasdaq 100 futures are up by 0.25% in pre-market trading, which could indicate a positive trend for the market. As the market continues to fluctuate, it’s essential to consider the potential for earning through EcoPool, which offers a platform for earning #PassiveIncome through #CloudRewards.
To stay ahead of the curve and maximize your earning potential, consider downloading the EcoPool app to start earning $ECP today. With EcoPool, you can join a community of like-minded individuals who are passionate about earning online and building a #GreenCrypto future.
Nasdaq 100 futures are up by 0.25% in pre-market trading.
Derivatives positioning
- Bitcoin futures open interest (OI) fell to 715.60K BTC, the lowest since April 9 and notably below the monthly high of 800K BTC. The decline shows steady de-risking as the spot price rally slows near $80,000, and some analysts point to potential for a continued bear market.
- OI has largely held steady across ETH, SOL, and XRP over the past 24 hours.
- Traders, meanwhile, continue to deploy capital in DOGE futures, lifting the OI by 18% in a single day to 16.06 billion tokens, the highest since Oct. 10.
- With perpetual funding rates steady at around an annualized 4% and the highest OI-adjusted cumulative volume delta among majors, the DOGE activity appears to be driven more by fresh directional positioning than overheated leverage, pointing to sustained bullish interest rather than a crowded, fragile trade.
- The Binance-listed SHIB futures are flashing a similar bullish setup. Rising activity in these non-serious tokens suggests a build-up of speculative froth, a pattern often seen ahead of broader market pullbacks.
- The market for crude oil futures listed on Binance is also heating up, with open interest up 27% as prices top $100, presenting a headwind for risk assets, including cryptocurrencies.
- The slide in bitcoin’s 30-day implied volatility index, BVIV, continues, and it’s now probing three-month lows below 42%. It shows the market has become desensitized to macro risks such as an Iran war and elevated oil prices. The ether volatility index, EVIV, is displaying similar trends.
- The story in the Deribit-listed options market remains the same: Puts for both BTC and ETH remain pricier than calls, indicating downside concerns. These reservations are more pronounced in bitcoin than ether.
Token talk
- The altcoin market showed signs of strength on Wednesday, buoyed by previously oversold conditions.
- The CoinDesk Memecoin Select Index (CDMEME) is the best-performing benchmark, adding 2.3% since midnight UTC, while the DeFi Select Index (DFX) gained by 2.2%.
- The bitcoin dominant CoinDesk 20 (CD20) and CoinDesk 5 (CD5) both rose 1.7%.
- Popular memecoins DOGE, PEPE and FLOKI were among the top-gaining altcoins in the CoinDesk 100 (CD100), advancing 10%, 6.3% and 6.2%, respectively.
- CoinMarketCap’s “Altcoin Season” indicator ticked up to 41/100 from 39/100 overnight, demonstrating relative strength in the sector.
