finance
Bitcoin Holds Above $63,000 After Sunday Rally
Bitcoin traded above $63,000 on Monday after a 4% gain on Sunday. The price sits near its 200-week moving average, a level that has historically marked cycle turning points.
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Bitcoin traded above $63,000 on Monday after rising 4% on Sunday. The price hovered near its 200-week simple moving average, a level that has historically served as long-term support during major cycle shifts. Futures open interest fell to 716,000 BTC from a record 901,000 BTC four days earlier.
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The 30-day annualized implied volatility index BVIV dropped to 50% from nearly 59% on Friday. Ether's implied volatility eased to 69% from 75%. The five most active options on Deribit in the past 24 hours were all calls, including a $170,000 strike expiring December 25. Dealer gamma around $60,000 remains a potential source of amplified price swings.
BEAT token rose 78% and Siren's SIREN gained 33% over the past 24 hours. Both tokens operate on BNB Chain and focus on Web3 AI projects. BCH open interest increased more than 13% to 1.64 million BCH, the highest level since July 2023, while its price fell 8.3%.
Rising open interest alongside falling prices typically signals short accumulation. Zcash rebounded 45% from last week's low after developers proposed the Ironwood upgrade to address a counterfeiting vulnerability in its Orchard privacy pool.
