Crypto markets are experiencing low volatility, trading within a narrow range following Wednesday's inflation report.
By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback1 min ago3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin price (CoinDesk data)SummaryShow- Since midnight UTC, Bitcoin has seen a 0.30% increase, although the overall crypto market cap has decreased by 0.54% in the last 24 hours, totaling $2.18 trillion.
- CoinMarketCap's Fear and Greed index remains in the "fear" zone at 38 out of 100.
- Altcoins such as HYPE and XMR have outperformed Bitcoin, rising by 2.7% and 3.2%, respectively, since midnight.
Bitcoin has stabilized around $63,600 after the U.S. inflation report aligned with expectations, providing some reassurance but failing to drive significant market movements.
Since the start of the day, Bitcoin's value has increased by 0.30%, while the total crypto market capitalization has dipped by 0.54% to $2.18 trillion.
July's Consumer Price Index (CPI) showed a year-over-year increase of 3.4%, in line with predictions. Additionally, core inflation decreased slightly, with the annual figure dropping to 2.5% from 2.6%. The upcoming producer price inflation data, scheduled for 12:30 UTC, may influence the current market sentiment.
In the U.S. stock market, S&P 500 index futures rose by 0.13%, while Nasdaq 100 futures remained stable.
Derivatives Market Insights
- Futures market activity persists: The 24-hour trading volume has reached $147 billion, marking a 6% increase, yet the total open interest (OI) in cryptocurrency futures remains steady at approximately $116 billion.
- XRP OI remains high: XRP futures OI stands at 2.67 billion tokens, the highest level since October, maintaining this position for three consecutive days. The cumulative volume delta (CVD) over 24 hours is negative, indicating that bearish positions are being executed more than bullish ones, suggesting a potential drop below $1. However, an annualized perpetual funding rate of nearly 8% indicates a tendency towards bullish positions.
- ADA and BCH show strong bearish trends: Both cryptocurrencies exhibit funding rates of -10% or lower, indicating a distinct investor inclination towards bearish strategies. They also display negative 24-hour CVD, reflecting aggressive selling, especially in the case of ADA, which has an OI close to its recent peak of 2.79 billion tokens, suggesting traders are increasing short positions at high participation levels.
- AVAX shifts from gain to loss: Avalanche's AVAX, which was among the top gainers earlier in the week, now registers the largest OI loss in the last 24 hours, alongside LTC, LINK, and SOL.
- Implied volatility remains low: The options-based implied volatility for Bitcoin and Ether is hovering near year-to-date lows, indicating that traders are not anticipating significant price fluctuations in the near term.
- Short-term bullish bets emerge: In Bitcoin's case, a substantial number of call options at the $65,500 strike price were purchased, with an initial premium of $1.07 million. This represents a short-term bullish outlook, as these options expire on August 15.
Token Performance Updates
- XMR has risen by 3.15% since midnight UTC, trading at around $404, continuing its weekly uptrend of over 11% as the privacy-focused coin outperforms the overall market.
- HYPE has gained 1.75% since midnight, now priced at $57, contributing to its steady rise with a total weekly increase of 2%.
- FET has increased by 0.84% since midnight, while NEAR has added 0.94%, as several mid-cap altcoins outperform Bitcoin and Ether.
- CRV has retracted some of Wednesday's gains, dropping 8.38% over the past 24 hours to 25 cents, yet it remains up more than 22% for the week after breaking through a prolonged downward trendline.
- DeFi token MORPHO has been one of the poorer performers, declining by 1.51% since midnight.
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The Tachyon upgrade for Zcash aims to enhance shielded payments, boost quantum readiness, and assess the stability of its funding, security, and governance.
By CoinDesk ResearchJun 30, 2026Commissioned byGenZcashThe Tachyon upgrade for Zcash aims to enhance shielded payments, boost quantum readiness, and assess the stability of its funding, security, and governance.
Why it matters:
The Tachyon upgrade for Zcash aims to enhance shielded payments, boost quantum readiness, and assess the stability of its funding, security, and governance.
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