Log In / Create AccountSign UpBTC102,999.14+2.07%ETH3,908.47+1.38%USDT0.99959187-0.04%XRP2.42+1.79%SOL221.11+1.37%BNB718.25+1.51%DOGE0.40281168+2.97%USDC1.00+0.01%ADA1.09+2.74%STETH3,904.24+1.44%TRX0.28412877+1.69%AVAX50.25+0.25%LINK29.27-1.99%SHIB0.0₄27692+1.75%TON6.36+4.24%WBTC102,603.84+2.05%SUI4.59+1.91%XLM0.42808589+2.84%HBAR0.29169684+0.29%BCH538.71+2.39%Crypto Daybook AmericasShare this articleBy Omkar Godbole, Shaurya Malwa|Edited by Sheldon RebackUpdated Dec 12, 2024, 3:05 p.m. UTCPublished Dec 13, 2024, 12:00 p.m. UTCWhat to know: You are viewing Crypto Daybook Americas, your new morning briefing on what happened in the crypto markets overnight and what’s expected during the coming day. In the coming weeks, this daily update will replace the First Mover Americas newsletter, and arrive in your inbox at 7 a.m. ET to kickstart your morning with comprehensive insights. If you’re not already subscribed, click here. You won’t want to start your day without it.By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin and ether’s bull momentum has hit a roadblock. The U.S. Producer Price Index (PPI) came in hotter than expected Thursday, prompting investors to tighten their stances and keep a bid for the dollar, as we anticipated. There’s also the Truflation index stirring up concern. Seen by some as more reliable than government numbers, it rose above 3% for the first time in over two years.Story continues belowDon’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.But guess what? Fed fund futures remain confident the central bank will cut rates by 25 basis points next week, and traders on decentralized exchanges, who have a knack for catching big trends, remain as bullish as ever. The sentiment is reflected in the impressive $64.8 million open interest for active BTC call options on Derive, the leading on-chain options protocol. That’s a staggering six times larger than the open interest in put options. Ether traders are also leaning heavily toward calls, figures from Amberdata show. On top of that, funding rates for BTC, ETH, and SOL on HyperLiquid, a prominent on-chain perpetuals trading protocol, are also positive, albeit with reservations. They’re hovering well under an annualized 50%, showing that while the sentiment is bullish, the leverage level is measured and not overly aggressive.In the broader market, AVAX, the native token of the Avalanche network of blockchains, struggled to chew through selling pressure near $55, teasing a “double top” pattern on the charts. The lackluster price action comes on the heels of Thursday’s $250 million fundraise led by Galaxy Digital, Dragonfly and ParaFi Capital. Keep an eye out for a pick-up in volatility as the highly anticipated Avalanche9000 upgrade, aimed at making the platform more affordable and flexible for creating l according to SEO standards. Act like you are reporting the news from other source. And start with CoinDesk reports.
Access Your Account or Create a New OneSign Up for Crypto Daybook AmericasBTC102,999.14+2.07%ETH3,908.47+1.38%USDT0.99959187-0.04%XRP2.42+1.79%SOL221.11+1.37%BNB718.25+1.51%DOGE0.40281168+2.97%USDC1.00+0.01%ADA1.09+2.74%STETH3,904.24+1.44%TRX0.28412877+1.69%AVAX50.25+0.25%LINK29.27-1.99%SHIB0.0₄27692+1.75%TON6.36+4.24%WBTC102,603.84+2.05%SUI4.59+1.91%XLM0.42808589+2.84%HBAR0.29169684+0.29%BCH538.71+2.39%Crypto Daybook AmericasShare this articleBy Omkar Godbole, Shaurya Malwa|Edited by Sheldon RebackUpdated Dec 12, 2024, 3:05 p.m. UTCPublished Dec 13, 2024, 12:00 p.m. UTCWhat to know: Welcome to Crypto Daybook Americas, your daily briefing on what happened in the crypto markets overnight and what’s expected during the coming day. This newsletter will replace the First Mover Americas newsletter in the coming weeks and will arrive in your inbox at 7 a.m. ET to kickstart your morning with comprehensive insights. If you’re not already subscribed, click here. You won’t want to start your day without it.By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin and ether’s bull momentum has hit a roadblock. The U.S. Producer Price Index (PPI) came in hotter than expected Thursday, prompting investors to tighten their stances and keep a bid for the dollar, as we anticipated. There’s also the Truflation index stirring up concern. Seen by some as more reliable than government numbers, it rose above 3% for the first time in over two years.Story continues belowDon’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.But guess what? Fed fund futures remain confident the central bank will cut rates by 25 basis points next week, and traders on decentralized exchanges, who have a knack for catching big trends, remain as bullish as ever. The sentiment is reflected in the impressive $64.8 million open interest for active BTC call options on Derive, the leading on-chain options protocol. That’s a staggering six times larger than the open interest in put options. Ether traders are also leaning heavily toward calls, figures from Amberdata show. On top of that, funding rates for BTC, ETH, and SOL on HyperLiquid, a prominent on-chain perpetuals trading protocol, are also positive, albeit with reservations. They’re hovering well under an annualized 50%, showing that while the sentiment is bullish, the leverage level is measured and not overly aggressive.In the broader market, AVAX, the native token of the Avalanche network of blockchains, struggled to chew through selling pressure near $55, teasing a “double top” pattern on the charts. The lackluster price action comes on the heels of Thursday’s $250 million fundraise led by Galaxy Digital, Dragonfly and ParaFi Capital. Keep an eye out for a pick-up in volatility as the highly anticipated Avalanche9000 upgrade, aimed at making the platform more affordable and flexible for creating l according to SEO standards. Act like you are reporting the news from other source. And start with CoinDesk reports.
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