Bitcoin and Ethereum rose slightly as traders weighed macro risk, futures positioning, and whether Bitcoin can sustain a breakout above $80,000.
Bitcoin traded around $72,700, holding above the $70,000 level, but analysts did not see the rally pushing toward $80,000.
Bitcoin open interest rose to about 680,000 BTC, the highest in nearly two weeks, signaling rising demand alongside the move.
Ethereum open interest rose to about 13.41 million ETH, a fresh high since January 31.
XRP futures trading activity remained subdued, with open interest under 1.7 billion XRP.
MANTRA surged after its token migration and rebranding, with the OM token replaced by MANTRA and a 1-for-4 redenomination, sending the price up roughly 25% over the past 24 hours.
Large-cap crypto equities drove the session higher, with the CoinDesk 5 and CoinDesk 10 indices up about 3.1% as DeFi and computing indices were little changed.
If Bitcoin continues toward $80,000 and stabilizes there, profits could be reallocated into riskier altcoins, though for now the market remains cautious.
Monero (XMR) bucked the early-year hype around privacy coins, rising 5.2% after UTC midnight, with a 9.8% gain over the past week; ZEC and DASH also pulled back.
Gold-backed futures such as XAUT and PAXG saw open interest steadily decline as crypto rallied.
Privacy-focused assets saw increased activity in futures, with ZEC futures volume rising and total open interest ending a two-month decline.
Bitcoin and Ethereum annualized perpetual funding rates remained modestly bullish, while XRP and SOL funding rates stayed somewhat negative.
Bitcoin and Ethereum 30-day implied volatility indices held in a narrow range, signaling market stability.
Deribit put skew for Bitcoin and Ethereum cooled, yet high-strike calls persisted, and demand for BTC/ETH call calendar diagonals remained.
Solana’s SOL followed the same trend.
Investors may be reallocating funds into major cryptocurrencies as gold’s rally cools.
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