We’re excited to bring you the weekly updates, insights, and opportunities to enhance your trading experience with Delta Exchange.
WEEKLY SNAPSHOT
Note: Last Price mentioned above are as observed on 19th Jun, 11:59 PM IST.
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CRYPTO NEWS
- Bitcoin briefly surged above $106,000 after an unknown whale took a massive $255 million leveraged long position at 20x leverage, triggering significant short liquidations. This move helped BTC break through nearby resistance, reaching around $106,500, but traders remain cautious about whether the breakout will sustain. Key levels to watch include $100,000 and $110,000 for June, with $104,500 needing to hold to maintain a short-term bullish outlook. Similar large whale trades have influenced Bitcoin’s price action several times in May and June. (Source: Cointelegraph)
- U.S. spot Bitcoin ETFs have seen an eight-day net inflow streak totaling $2.4 billion, led by BlackRock’s IBIT fund, which accounts for 96% of the inflows. Since their January 2024 debut, Bitcoin ETFs have attracted $46.9 billion in net inflows with nearly $125 billion assets under management. In contrast, Ethereum ETFs’ previous 19-day $1.4 billion inflow streak ended last week, and inflows have slowed, with total Ethereum ETF inflows at $3.9 billion since launch. (Source: The block)
- Thailand will waive capital gains tax on crypto trades from January 2025 to December 2029, but only if conducted via locally licensed exchanges, aiming to boost its position as a global crypto hub. (Source: Finance Magnates)
- The U.S. Senate passed the GENIUS stablecoin bill in a 68-30 vote, pushing forward national crypto regulation despite concerns over Donald Trump’s ties to World Liberty Financial’s USD1 stablecoin. The bill now moves to the House. (Source: Cointelegraph)
- Bitcoin’s onchain activity has dropped to multi-year lows, but large transactions are rising, with whales and institutions now dominating base-layer transfers, according to Glassnode. (Source: The block)
OPTIONS OI ANALYTICS FOR UPCOMING WEEK
OI Analytics for the upcoming week: BTCUSD
Significant Put writing starts at 100,000 strike while significant Call writing starts at 110,000 strike. PCR of 0.92 points to a neutral sentiment for the coming week.
OI Analytics for the upcoming week: ETHUSD
Significant Put writing starts at 2200 strike while Call writing starts from 2900 strike. PCR of 1.01 points to neutral market sentiments for the upcoming week.
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Delta Exchange Team