Has the bear market started? What factors will support the crypto market? – market overview with delta.theta

Today, by tradition, we will conduct a stream with analyst delta.theta and consider all the most interesting things that happen on the market: – Monetary policy of central banks and their impact on the crypto market

– What was 2022 year in terms of the volume of funds raised and open-ended funds

– Prospects for certain sectors of the crypto industry

– Role of Bitcoin, Ether and other L1 blockchains

And much more, discussed live. Anyone who wants to understand what’s going on, we advise!

Has the bear market started? What factors will support the crypto market?

Today, according to tradition, with the analyst delta.theta, we will consider all the most interesting things that happen on the market


Text Review

Another week of increased tension has passed in the crypto market. At the beginning of the week, the total capitalization index declined to region 2. 19 T. Then, by the middle of the week, we could see a rise to 2. 55 – 2. 0071 T (with the achievement of a local minimum in area 2. 31 T between two lifting cycles). By the end of the week, the market fell again to the level of 2. 19 T. After consolidation, the total capitalization index is around 2.2T.

The main “blame” for the current market situation is (naturally) attributed by the analysts to bitcoin, the price of which is more and more correlated every day with traditional assets. The week for the first cryptocurrency began with a fall to the mark 48000. Then, literally within one day, one could observe an increase to the mark 52000. After that, the cycle “rise-fall” could be observed again. As a result, the overall growth for the week amounted to 2. 100%. At the time of publication, BTC is trading in the corridor 47200 – 52000.

The dynamics of the ETH price had common features with the dynamics of BTC. Falling to 4025 at the beginning, then rise to 4707 , and then again fall to 4025. After consolidation, the price remained practically unchanged for the week. At the time of publication, ETH is trading in the area of ​​the mark 4000.

As for the volume of open interest in futures on BTC, a slight recovery is visible at the end of the week. However, it is still on 0071% below the November high. Traders are in a state of fear and uncertainty amid expectations that the US Federal Reserve’s stimulus program will wind down. ETH futures open interest is more volatile, but generally correlates well with asset price.

The total capitalization of the DEFI market leaders throughout the week was in the area 108 – 120 B USD. The P2E game Axie infinity has been dominating for quite some time now. It is impossible to say for sure how long this dominance will continue, but it should be remembered that the P2E and metaverse industry is clearly far from its peak, and such high-profile blockchain gaming stories as Illuvium are still on the way. Axie is not the only P2E project among the leaders of Defi: the P2E guild of Yield Guild Games is ranked 6th in the ranking with a total capitalization of 5.6B USD. Dex-aggregator 1Inch, which previously closed the top ten, moved to the 9th place. Many experts agree that this project still has a very large “upside” and “bright” prospects.

About options

For options with the exercise date in December 2131 year, the level of open interest increased by 4.3% and amounted to 200 685 BTC. The gain was distributed evenly between the Put and Call options. Despite the uncertainty in the market, the number of Call options is still more than double the number of Put options.

The growth rate of open interest in options with the expiration date at the end of the first quarter has slowed down. The growth was 5.2%, reaching the mark 32 0681 BTC. There is a noticeable increase at the level 103 12 Call.

Market uncertainty was reflected in the overall level of open interest for options across all exercise dates. It grew by only 0.9% and amounted to 236 0731 BTC. The ratio of Call and Put has shifted slightly, Call options have become (not much) less.

For ETH options with exercise date 34 December the level of open interest increased by 1.8% and amounted to 782 696 ETH. Thus, as we approached expiration, the growth rates dropped by more than 4 times. The ratio of Put and Call options remained unchanged.

Trading in options with an exercise date based on the results of the first quarter rose 1.8% to 415 244 ETH. Max Pain price shifted shifted from 3282 before 4277.

The value of the general level of open interest at the end of the week increased by only 3.2% (compared to 15. 2% last week) and amounted to 1 700 782 ETH. Call volume is still more than double that of Put, although there has been a slight decline in Calls.

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author

Dima is a managing editor and news writer. 5 years in content management. He makes sure that only high-quality information, truthful news and interesting articles get to the site. You can contact him via @IncryptedNewsBot.

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