BTC Steadies at $75K as Short-term Holders Eye Profits: Crypto Markets
Bitcoin traded near $78,000 as it lingered close to the $75K area. Institutional demand has stayed steady while short-term holders eye profits amid shifting crypto markets. Traders are also monitoring progress in U.S.-Iran talks during a two-week ceasefire.
Market backdrop
Filmogaz.com 20 (CD20) rose roughly 1.9% in the last 24 hours. Bitcoin gained near 1% as reports of a ceasefire extension improved risk sentiment.
A softer U.S. dollar slipped to a near six-week low. Treasury yields eased and gold prices climbed, supporting risk appetite and hedging demand.
Geopolitical and macro risks
Tensions persist from a U.S. blockade of Iranian ports. Iran has threatened to disrupt shipping in the Persian Gulf and nearby waterways.
Energy shocks are already influencing inflation expectations and could affect central bank policy. Those shifts may ripple into crypto markets.
Onchain resistance dynamics
Onchain data show bitcoin supply often appears at short-term holders’ cost-basis around $76,800. That level can act as resistance when investors sell at break-even.
Derivatives and flow indicators
Crypto futures open interest rose 2.5% in the past 24 hours. Trading volume fell 16% while liquidations plunged 48% to $220 million.
The mix suggests traders are adding exposure without strong conviction. The sharp decline in liquidations points to reduced volatility and fewer forced exits.
XRP and DOGE saw open interest gains of at least 3%. DOGE showed the most positive 24-hour CVD, signaling aggressive buyer action.
On Hyperliquid, commodity perpetuals now make up 30% of notional open interest. That market segment continues to attract significant activity.
Volatility and options positioning
Bitcoin and ether 30-day implied volatility indexes remain below their 200-day averages. One-week implied volatility for bitcoin trades cheap versus realized volatility.
Short-dated options are inexpensive, prompting straddle and strangle strategies by volatility buyers. Deribit-listed options show a put bias for both bitcoin and ether.
Persistent demand for downside hedges suggests traders still question the rally’s sustainability. Many participants continue to buy protection.
CoW Swap DNS hijack
CoW Swap, tied to CoW Protocol, suffered a DNS hijacking that rerouted users. Attackers used social engineering to gain control of the domain registrar.
They sent traffic from cow.fi to a cloned interface and captured wallet approvals. The protocol’s smart contracts and back-end systems were not exploited.
Onchain records indicate at least $1 million was drained, including a wallet losing 219 ETH. The COW token fell about 2.6% the day of the attack, with volume spiking.
Prices later drifted, leaving the token roughly 11% lower from that day. CoW DAO regained control of the cow.fi domain just over half a day ago.
Despite the recovery, sentiment remains weak and the token dropped another 6%. Market confidence has not yet fully returned.
Overall, institutional demand looks steady but a supply wall near $76,800 could cap upside. Short-term holders will likely continue to eye profits as markets digest these developments.
