finance
Bitcoin Trades at $59,800 as Solana Gains 2 Percent
Bitcoin rose 0.6 percent to $59,800 on June 29 while Solana advanced 2 percent. Ether stayed below $1,600 and more than $200 million in futures positions were liquidated in the prior 24 hours. Open interest metrics pointed to reduced trader risk appetite across major tokens.
Jun 29, 7:03 AM·1m read1 source
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Bitcoin traded at $59,800 on June 29 after adding 0.6 percent since midnight UTC, CoinDesk reported. The price stood at $59,913.04 at the time of the report. The cryptocurrency has lost more than 50 percent of its value since its October record high.
Solana rose 2 percent since midnight and more than 13 percent since the prior Thursday. The token had reached its lowest point since late 2023 earlier in June. Ether traded below $1,600. Exchanges forcibly closed more than $200 million in futures positions over the 24 hours ending June 29.
Of nearly $20 million in liquidations recorded in the four hours before publication, $13 million were short positions. Bitcoin futures open interest returned to early-month ranges after a Friday peak of 775,000 BTC. Ether futures open interest stood at approximately 14.2 million ETH.
Solana futures open interest reached 72.70 million SOL, just below the June 24 record of over 76 million SOL. Avalanche open interest fell to 38.07 million tokens, the lowest level since April 1, even as the token rose over 5 percent in the week ending June 29. The BVIV 30-day Bitcoin implied-volatility index dropped 5 percent to 47 percent.
On Deribit the $60,000 Bitcoin put option carried nearly $1 billion in notional open interest while the $80,000 call held $1.11 billion. The $50,000 put cluster held $712 million. Traders sold strangles in the July 10 expiry on HYPE options on the Derive platform over the weekend.
Dash and Zcash each rose more than 2 percent. Both assets had fallen between 18 percent and 30 percent in the two weeks ending June 29. The CoinMarketCap Altcoin Season index stood at 49/100.
