Mon dieu! BTC Clings to Hope While Altcoins Dole Out Tears 😭

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Markets

What to know:

  • Bitcoin, that lovesick suitor, clings to $93,500. To win the heart of bulls, it must vault to $98,500-lest it be forever mocked by the jester of bear markets 🤡.
  • Altcoins, once the belle of the ball, now shuffle awkwardly to a 20/100 “season” score. Their romance with investors has clearly turned into a farce 🎭.
  • Privacy coins, after a rousing encore, now face their curtain call. ZEC and DASH? They’ve lost 20% of their sparkle-perhaps they forgot to tip the critics 🙄.

The crypto crowd, ever the drama queens, hummed a buoyant tune as BTC flirted with $93,500 and ETH rose to $3,200 post-Fusaka upgrade. A mere trinket of optimism, really, but enough to keep the crowd from rioting 🥁.

The Fear and Greed index, that fickle muse, rose to 27/100. No longer in “extreme fear”-a modest step up from despair, but still a world away from joyous revelry 🎉.

Yet lo! BTC and its tokens remain trapped in a downtrend since early October, like a mule refusing to budge. To break free, it must conquer $98,500-a price tag even a fool would balk at 💸.

The CD20 Index, ever the optimist, gained 1.13% in 24 hours. A fragile rally, but hey, better than a Shakespearean tragedy 📜.

Derivatives positioning

  • BVIV, that volatile flirt, dropped to 48.44%-its lowest since Nov. 14. A sign of calm before the next storm? Or just a nap? 🌪️
  • The bullish trendline from September? Gone, like a dream after coffee. Low volatility ahead-perfect for bulls to sip champagne and scoff at bears 🥂.
  • Ether’s volatility index? 72%-a polite nod to chaos, but nothing to write home about 📝.
  • On Deribit, BTC puts demand premiums, while ETH options whisper bullishness. A game of cat and mouse, but the cat’s got a hangover 🐱.
  • The $100K call? Now the darling of the options world, with $2.82B in open interest. A golden goose, if one ignores the feathers on the floor 🦆.
  • Strangles dominate block flows. A masterclass in hedging, or a desperate scramble? You decide 🤷.
  • FART futures? OI up 22%! Either genius or madness. One can never tell in this theater of madness 🎭.

Token talk

  • Altcoins, the eternal sidekicks, slink about in silence. Their “season”? More like a cold snap. Investors prefer BTC’s stability over their risky waltz 🕺.
  • CoinMarketCap’s “altcoin season” indicator? A paltry 20/100. One must wonder: Where is the fire? The passion? The oomph? 🔥
  • Exceptions abound: TAO, ENA, AVAX rise like phoenixes. But HBAR? Slumped by 3.8%. A cautionary tale for the faint of heart ⚠️.
  • Compare today’s market to last year’s-then it was memecoins and viral chaos! Now? Retailers have fled, leaving only the stoic, development-driven tokens. A maturation? Or a funeral? 🕯️
  • This “maturation” bodes well for cycles ahead. Privacy coins proved it-surging while BTC and ETH hit lows. But now? Correction time. ZEC down 29.4%, DASH 22%. A fall from grace, indeed 🕳️.

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2025-12-04 14:50