Bitcoin returned to the neighborhood of $64,000 on Tuesday after a $6.26 million rebound. The upturn in the United States debt rate of return and high oil prices have weakened risk preferences and the fall in the NASDAQ 100 index futures has also slowed the short-line rise in the encryption market.
Macro events are concentrated on Wednesday.
By the time of Asian time, Bitcoin had fallen by about 0.6 per cent since UTC zero points, fell by about 1 per cent in the Taipei, and suffered from a weakening of tokens such as SUI, XLM, TAO, etc. Brent crude oil returned to $94 per barrel after the 60-day ceasefire in the Americas and no new agreement had been reached, while the market was awaiting the release of the Federal Reserve minutes of its July meeting.
On the same day, Trump was expected to meet with the head of the encryption industry in the White House. Recent United States policies are expected to interact with macro-data to influence markets, allowing Bitcoin to maintain inter-zones, and short-line movements remain vulnerable to risky asset sentiment.
BTC derivatives are still too large
Derivative data show that the active futures-off structure of bitcoin has shifted from neutral to more, with more than 51 per cent. The annualized rate of funds for the renewal of contracts has risen to nearly 20 months, indicating that traders continue to increase their bets over bitcoin.
However, overall leverage expansion is not evident. Bitcoin futures contracts remained at around 750,000 BTCs, approximately the same as in previous weeks. The options market continues to tend in the upward direction, with Deribit’s last 24-hour, most active bitcoin contract with $700,000 worth of options due on September 25th.
The banknotes continue to divide.
While the outstanding stock of SOL futures rose to 6,688.8 million, the highest since 10 July, the financial rate remained close to zero, indicating that the increase had not yet resulted in a clear unilateral direction. For XLM, there was a more visible evaporation signal, with prices falling while the balance rose and the annualized fund rate fell to -28 per cent.
Of the other tokens, PUMP kept part of the increase after the previous day's increase, and XMR continued to be strong for almost a week; SUI fell before, FET continued to throw up and the increase since the end of July, and the LINK fell slightly. Overall, current purchases are concentrated in bitcoin, and the short-term flows of most mainstream currencies remain weak.