July 21, today there are several sets of data worth noting in the crypto market:
$BTC During the day, the low reached $64,093 and the high hit $66,565. It’s now around $66,500, up nearly 3% over the past 24 hours.
U.S. spot BTC ETFs saw net inflows of about $227 million on July 20, marking the fifth consecutive day of net inflows. Cumulatively over the past five days, net inflows have exceeded $700 million. ETH ETFs had net inflows of about $38 million the same day.
On-chain, CryptoQuant data shows long-term addresses holding at least 6 months are still buying.
Large whales have increased their holdings overall over the past two months, while mid-sized wallets have been selling.
Glassnode’s latest data indicates that spot trading volume isn’t yet very active, but futures and options open interest are both rising. Takers’ active trades for perpetual contracts have shifted to net buying, and the funding paid by longs remains relatively low.
In the derivatives market, BTC open interest increased from under 750,000 contracts yesterday to about 770,000 contracts, equivalent to $51.2 billion. Over the past 24 hours, derivatives trading volume was about $56.2 billion, with liquidations of roughly $86.5 million.
The options market also saw a large bullish spread order targeting the end-of-month goal of $72,000. However, put options across different tenors are still generally more expensive than call options, suggesting that protective positions have not disappeared.
On the news front, today the market is mainly trading new developments related to the CLARITY Act. Reports say Trump has agreed to the morally contentious provisions, but this has not been officially confirmed yet, and no new bill text has been seen.
In addition, Strategy has now gone a second consecutive week without adding to BTC holdings, instead increasing its cash reserves to about $3.2 billion.
Next, the focus is mainly on three points:
After BTC rises, whether spot trading volume can continue to keep up;
If open interest in derivatives continues to increase but spot doesn’t expand correspondingly, watch for the buildup of leveraged positions;
If the funding rate rises quickly, it suggests chasing longs may be getting crowded. If prices rise but funding remains steady, the market is not showing signs of overheating for now.
For those with spot positions, focus on whether funds keep flowing in. For those trading contracts, control leverage and stop-losses—there’s no need to rush into new longs just because the price is up for a single day.
$BTC #加密日报 #链上数据
$BTC During the day, the low reached $64,093 and the high hit $66,565. It’s now around $66,500, up nearly 3% over the past 24 hours.
U.S. spot BTC ETFs saw net inflows of about $227 million on July 20, marking the fifth consecutive day of net inflows. Cumulatively over the past five days, net inflows have exceeded $700 million. ETH ETFs had net inflows of about $38 million the same day.
On-chain, CryptoQuant data shows long-term addresses holding at least 6 months are still buying.
Large whales have increased their holdings overall over the past two months, while mid-sized wallets have been selling.
Glassnode’s latest data indicates that spot trading volume isn’t yet very active, but futures and options open interest are both rising. Takers’ active trades for perpetual contracts have shifted to net buying, and the funding paid by longs remains relatively low.
In the derivatives market, BTC open interest increased from under 750,000 contracts yesterday to about 770,000 contracts, equivalent to $51.2 billion. Over the past 24 hours, derivatives trading volume was about $56.2 billion, with liquidations of roughly $86.5 million.
The options market also saw a large bullish spread order targeting the end-of-month goal of $72,000. However, put options across different tenors are still generally more expensive than call options, suggesting that protective positions have not disappeared.
On the news front, today the market is mainly trading new developments related to the CLARITY Act. Reports say Trump has agreed to the morally contentious provisions, but this has not been officially confirmed yet, and no new bill text has been seen.
In addition, Strategy has now gone a second consecutive week without adding to BTC holdings, instead increasing its cash reserves to about $3.2 billion.
Next, the focus is mainly on three points:
After BTC rises, whether spot trading volume can continue to keep up;
If open interest in derivatives continues to increase but spot doesn’t expand correspondingly, watch for the buildup of leveraged positions;
If the funding rate rises quickly, it suggests chasing longs may be getting crowded. If prices rise but funding remains steady, the market is not showing signs of overheating for now.
For those with spot positions, focus on whether funds keep flowing in. For those trading contracts, control leverage and stop-losses—there’s no need to rush into new longs just because the price is up for a single day.
$BTC #加密日报 #链上数据