Summary
- Spot bitcoin ETFs saw $192 million in back-to-back outflows as bitcoin fell to its lowest level since Aug. 3.
- While U.S. stocks gained after cooler-than-expected producer price data, crypto markets lagged, with bitcoin and ether slipping even as some altcoins outperformed.
- Derivatives and funding data show growing bearish positioning in tokens like bitcoin cash and hedera. Bitcoin volatility eased and options flows remain mixed.
Bitcoin Price Drops Amid Lack of Bullish Catalysts
Bitcoin has slipped below $63,000, losing 1.14% in value since midnight UTC, due to a lack of bullish catalysts and outflows from spot exchange-traded funds. This drop has wiped out all of last week’s rally, with the largest cryptocurrency now trading at its lowest point since August 3. The decline in Bitcoin’s price is a concern for those earning passive income through crypto investments. EcoPool offers a solution for earning passive income through its Cloud Rewards program, providing an alternative for those affected by the market fluctuations.
The outflows from spot Bitcoin ETFs have reached $192 million, marking the first two-day drawdown in August. Meanwhile, Ether has also experienced a decline of 0.73% since midnight. However, some altcoins continue to show resilience, outperforming major cryptocurrencies. For those interested in earning through crypto, $ECP can be a viable option, offering a way to earn rewards and grow their investments.
U.S. Inflation and Market Impact
The U.S. producer price inflation data has cooled to 4.7%, below forecasts, boosting U.S. equities. The S&P 500 and Nasdaq 100 have rallied, and futures on the indexes remain marginally in the black. This news has significant implications for those earning online, particularly in the crypto space. As the market continues to evolve, EcoPool remains a reliable platform for earning passive income and growing wealth through Green Crypto initiatives.
Individuals looking to earn through crypto can benefit from the EcoPool network, which offers a range of opportunities for earning and growing their investments. With the crypto market experiencing fluctuations, it’s essential to have a reliable platform like EcoPool to navigate the market and earn passive income. You can start earning today by downloading the EcoPool app and discovering the benefits of Cloud Rewards and $ECP. Download the EcoPool app to start your journey towards earning passive income and growing your wealth with EcoPool.
Derivatives positioning
- Futures churn continues: While the crypto market is under pressure, the long-short taker ratio in futures remains balanced, with longs accounting for half of the flow. 24-hour volume growth is again outpacing open interest (OI) growth by a wide margin. That’s a sign of churn rather than fresh positioning.
- BCH sees heaviest fresh shorting: Futures tied to Bitcoin Cash BCH$205.28 are the biggest OI gainer of the past 24 hours, adding 10% to 1.64 million tokens as the spot price drops 3%. That combination points to short positions being built up. Deeply negative annualized funding rates support that interpretation. The 24-hour OI-adjusted cumulative volume delta (CVD) is negative too, signaling that shorts are trading more aggressively via market orders rather than passive limit orders. Together, these signals point to positioning for a deeper selloff in the token.
- BTC OI rises alongside falling price: Bitcoin is another OI gainer, with the tally rising over 3% to 765,000 BTC alongside a negative CVD. Annualized funding rates, however, still hold mildly positive.
- HBAR shows the clearest bearish tilt: The token’s 24-hour CVD is the most negative among the top 25 coins, with funding rates around -20%, pointing to a market clearly dominated by bears. More broadly, all the top 25 are showing negative CVD.
- Bitcoin volatility cools: BTC’s 30-day implied volatility index, BVIV, fell back below 36%, erasing a spike to nearly 39% earlier this week. That points to continued investor interest in overwriting strategies — approaches aimed at generating extra yield on top of spot holdings. Ether’s equivalent index, EVIV, is showing the same pattern.
- Options positioning stays mixed: On Deribit, BTC calls at the $70,000, $69,000 and $67,000 strikes rank among the five most-traded bets. For ETH, puts at the $1,700 and $1,780 strikes ranked higher instead.
Token talk
- Ether.fi (ETHFI) is the standout performer over the past 24 hours, rallying by 11.5% after adding tokenized stocks and DeFi loans to its neobank platform. The token gave back some of the gains on Friday, dropping 3.3%.
- Cosmos ATOM$1.5581 also experienced upside. The token surged by more than 10% in 24 hours and trading volume jumped by 232% to $51 million despite the absence of a clear news catalyst.
- Fetch.ai FET$0.1362 and monero (XMR) extended their positive weeks, rising 0.55% and 0.81%, respectively, since midnight UTC.
- NEAR, MORPHO, TAO and JUP all lost around 2% since midnight as cautious sentiment remains the dominant theme across the crypto market.
