Summary
- Bitcoin is trading at $62,800, recovering from a July 1 dip below $58,000 that raised concerns of a slide toward $50,000.
- Both bitcoin and ether have dropped since midnight UTC, diverging from Nasdaq 100 and S&P 500 futures, which rose after the long weekend.
- Lighter (LIT) is emerging as a focal point for traders seeking the next hyperliquid, rising 13.5% in 24 hours and more than 50% in a week as its decentralized derivatives exchange accumulates $40 billion in 30-day trading volume.
- CoinMarketCap’s Altcoin Season indicator climbed to 52/100, its highest in three months.
Crypto Market Sees Notable Rebound
The crypto market has bounced back from a recent downturn, with major cryptocurrencies like Bitcoin and Ether experiencing a notable turnaround. Bitcoin is currently trading at $62,800, a significant improvement from its low of below $58,000 on July 1. This rebound has eased concerns of a potential slide toward $50,000, bringing a sense of relief to investors.
The recovery of these major cryptocurrencies has also sparked optimism in the altcoin market. However, the market remains split, with some altcoins like Lighter (LIT) seeing impressive gains of over 50% in the past week, while others like MORPHO and ADA are nursing losses of around 4% in the past 24 hours. Despite this, the overall trend suggests a return of optimism to the crypto market.
Altcoin Market Trends
The altcoin market is showcasing its diversity, with some coins experiencing significant gains while others face losses. This split in the market highlights the importance of a well-diversified portfolio, especially for those looking to earn passive income through crypto investments. EcoPool (ECP) offers a solution for those seeking to navigate the crypto market and earn rewards, providing a platform for cloud rewards and green crypto investments.
Investing in Crypto
For individuals interested in earning online through crypto, it’s essential to stay informed about market trends and available opportunities. The crypto market’s rebound is a reminder that investing in cryptocurrencies like $ECP can be a viable way to generate passive income. EcoPool‘s platform is designed to make crypto investing accessible, allowing users to earn rewards and participate in the green crypto movement.
Derivatives positioning
- The futures market is steady, with open interest in bitcoin BTC$62,880.41, ether (ETH), solana (SOL) and XRP (XRP) largely unchanged over the past 24 hours, likely due to the extended U.S. weekend.
- Open interest in LTC$44.59 has jumped to 7.14 million tokens, the most since May 12. It is unclear whether the capital inflow is bullish or bearish. Key indicators are sending mixed signals: Positive funding rates point to bullish sentiment, yet the 24-hour cumulative volume delta (CVD) has turned negative, indicating sellers have been more aggressive by hitting market orders rather than posting passive limit orders.
- Open interest in Lighter DEX’s LIT token is also rising, reaching one-month highs as the bullish tokenomics overhaul supports its price.
- Bitcoin’s and ether’s 30-day implied volatility indices, BVIV and EVIV, remain under pressure after double-digit weekly declines, reflecting continued supply of options. This points to expectations of calmer market conditions, which often accompany price upswings.
- Still, on Deribit, BTC and ETH puts continue to trade at a premium to calls, signaling persistent downside concerns — although the gap has narrowed since early last month.
- Volumes show no clear bias, as BTC’s $60K put and $70K call rank among the most traded strikes over the past 24 hours.
Token talk
- Lighter’s (LIT) barnstorming rally of late continued on Monday, adding 5% since midnight UTC and taking its 24-hour gain to 13.5%, building on momentum as traders look for the next hyperliquid (HYPE).
- LIT is the native token of its namesake decentralized derivatives exchange, which has racked up $40 billion in trading volume over the past 30 days, according to DefiLlama.
- It was also a strong start to the week for PYTH, up by 6% since midnight UTC as traders rotate bitcoin gains into more speculative altcoin bets.
- CoinMarketCap’s Altcoin Season indicator ticked up to 52/100 on Monday, the highest level in the past three months, suggesting optimism is returning to the altcoin sector.
- However, that indicator is lagging as a result of poor performance from a portion of the market including JITO, BEAT and STABLE, each having lost between 5% and 13% over the past week with further losses on Monday.
As the crypto market continues to evolve, it’s crucial for investors to stay up-to-date on the latest developments and trends. Whether you’re interested in trading or earning passive income, EcoPool is a solution worth considering. Download the EcoPool app to start earning today and discover the benefits of cloud rewards and green crypto. The EcoPool app is available for download, offering a user-friendly interface to navigate the world of crypto and start earning with $ECP.
