Bitcoin is consolidating after Monday’s rally, trading around $73,600 with a 72,000–74,000 support zone in view. The RSI remains elevated after roughly a 15% price rise, signaling overbought conditions and a potential pullback before a move higher. Futures open interest rose to 685.2K BTC, a three-week high, underscoring continued buying demand despite near-term caution.
Altcoins show a mixed picture: SOL signals are mixed, with rising open interest but near-zero cumulative volume delta and negative funding, hinting at downside pressure. ADA and BCH exhibit modest declines in open interest, pointing to capital outflows. After Monday’s rally, several altcoins are facing deeper profit-taking as the market cools.
Meme coins moved the narrative earlier, with TRUMP slipping on profit-taking after last week’s “Gala Luncheon” announcement, while PEPE led earlier gains before giving back gains. The XRP open interest has recovered to pre-crash levels, even surpassing BNB in some metrics. Bitcoin block activity favored volatility strategies like straddles, while ETH traders pursued call spreads and straddles, with the two most popular BTC options remaining the $60,000 put and the $75,000 call.
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