Bitcoin Rises 0.6% to $59,800 as BVIV Drops to 47% Despite Bearish Positioning
Updated
Updated · CoinDesk · Jun 29
Bitcoin Rises 0.6% to $59,800 as BVIV Drops to 47% Despite Bearish Positioning
3 articles · Updated · CoinDesk · Jun 29
Summary
$59,800 left bitcoin marginally higher on Monday, but it remained below $60,000 with analysts still warning that further declines are possible after a more than 50% slide from October's peak.
$200 million in 24-hour liquidations and futures open interest back to early-month levels showed traders are still cautious, while most top-25 tokens posted bearish CVD readings and BTC, ETH options stayed tilted toward puts.
BVIV fell 5% to 47%, pausing a two-week climb and signaling bets on calmer conditions, even as the biggest BTC options concentrations remained at the $60,000 put and $80,000 call.
Altcoins largely drifted with bitcoin, with the Altcoin Season index stuck at 49/100; SOL's elevated open interest near 72.7 million tokens hints at more volatility, while AVAX's falling open interest questions its rebound.