Crypto Market in Zen Mode as Bitcoin Holds at $70K Before Halving

[{"selector":"#anim-6f8224eb-d8c0-4a6f-9712-637929e124cc","keyframes":[{"offset":0,"transform":"translate3d(0, -234.09806%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -65.82837447200001%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -22.379774536000003%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -8.404120354%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -3.651929736%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] On Monday, Bitcoin was trading at more than $70,000, while Ether was selling at more than $3600. The halving event of Bitcoin maintains a high level of options volatility while concurrently maintaining inflated financing rates for perpetual futures.

[{"selector":"#anim-e97b3b87-18e4-489e-89cb-b1eba952b2e6","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] As a result of the fact that many major financial centers across the world were closed for the long easter weekend, Bitcoin (BTC) and ether (ETH) started the trading week very close to where they had been before.

[{"selector":"#anim-6dda6110-3a36-444e-90b7-2935405679bd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-24e0de71-eb52-4d92-81dc-f8d9068a1e00","keyframes":{"transform":["translate3d(-116.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] According to information provided by CoinDesk Indices, the price of bitcoin remained unchanged at $70,000 at the time of this writing, while the price of ether was trading close to $3600. The CoinDesk 20 (CD20), which is a measurement of the digital assets that are the largest and most liquid, was trading at 2,750, representing a 1.9% increase.

[{"selector":"#anim-e94e470e-62e3-4625-a34b-2581b1667fab","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de636db7-072e-4a19-bd68-b1d3e76634e0","keyframes":{"transform":["translate3d(0px, -327.48152%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] According to Jun-Young Heo, a futures trader at Presto Labs, which is based in Singapore, "BTC and ETH showed relatively calm movement last week compared to other weeks in March," with weekly realized volatility hitting below 50%

[{"selector":"#anim-affb09c9-2e74-4a94-b1e0-0c619a206a14","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-92024a8f-fc32-4e53-a5b8-c6dfa936a63f","keyframes":{"transform":["translate3d(120.52980%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] This was said in an email interview. The implied volatility of front-month options, on the other hand, continues to be elevated around 75% regardless of the fact that the Bitcoin halving event is anticipated to take place around April 20.

[{"selector":"#anim-d195488b-cb3a-45d2-a364-cc90b31cb12a","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] In addition to this, he mentioned that funding rates continue to be inflated, with the majority of large-cap perpetual futures on key exchanges recording funding rates ranging from 6bps to 8bps, and the worldwide open interest for Bitcoin and Ethereum perpetual futures reaching 35 billion dollars

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[{"selector":"#anim-c81f96f7-1f61-4fb7-810a-c81fc33abbae","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-1a1ef98f-add7-4cab-8e00-61dbd357eacd","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] In the meantime, QCP Capital noted in a telegraph note that bitcoin was gaining momentum before to the long weekend as a result of favorable inflows on bitcoin exchange-traded funds (ETFs) amounting to 243.5 million dollars earlier this month. Furthermore, according to the data provided by Coinglass, this inflow continued on March 28 with an additional influx of $182 million.

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