Bitcoin maintains a price of $62,800 after a recent decline to $58,000, while LIT jumps by 50% and Altcoin Season indicator reaches its peak in three months.
By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback Jul 6, 2026, 10:44 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin price (CoinDesk data)SummaryShow- Bitcoin is currently priced at $62,800, recovering from a dip below $58,000 on July 1, which raised fears of a potential drop to $50,000.
- Both Bitcoin and Ether have seen declines since midnight UTC, contrasting with the rise in Nasdaq 100 and S&P 500 futures, which increased following the long weekend.
- Lighter (LIT) is drawing attention from traders, surging 13.5% in 24 hours and over 50% in a week, as its decentralized derivatives exchange achieves $40 billion in trading volume over the past month.
- The Altcoin Season indicator on CoinMarketCap rose to 52/100, marking its highest level in three months.
Bitcoin BTC$62,746.81 is trading at $62,800 on Monday, marking a significant recovery from its July 1 low of below $58,000, which was the lowest since September 2024 and raised fears of a decline toward $50,000.
Ether (ETH) also rebounded, trading at $1,760 after hitting a low of approximately $1,550 last week. The two leading cryptocurrencies surged at the futures open on Sunday but have since lost about 1% of those gains since midnight UTC.
This retraction contrasts with traditional markets, where Nasdaq 100 and S&P 500 index futures are up by 1% and 0.5%, respectively, following the extended weekend.
The altcoin landscape is mixed. Lighter (LIT) continues to perform well, climbing over 50% in the past week, while MORPHO$1.8998 and ADA$0.1824 are both down around 4% in the last 24 hours.
Derivatives Market Overview
- The futures market remains stable, with open interest in Bitcoin BTC$62,746.81, Ether (ETH), Solana (SOL), and XRP (XRP) showing little change over the past 24 hours, likely due to the prolonged U.S. holiday.
- Open interest in LTC$44.68 has risen to 7.14 million tokens, the highest level since May 12. It remains uncertain whether this influx of capital is bullish or bearish. Key metrics are sending mixed signals: while positive funding rates suggest bullish sentiment, the 24-hour cumulative volume delta (CVD) has turned negative, indicating that sellers are more aggressive, executing market orders rather than placing passive limit orders.
- Open interest in Lighter DEX’s LIT token is also increasing, hitting one-month highs as the tokenomics overhaul bolsters its price.
- Bitcoin's and Ether’s 30-day implied volatility indices, BVIV and EVIV, remain under pressure after significant weekly declines, suggesting ongoing options supply. This indicates expectations of less volatile market conditions, which typically accompany price increases.
- However, on Deribit, BTC and ETH puts are still trading at a premium compared to calls, reflecting ongoing concerns about downside risks, although the gap has narrowed since early last month.
- Trading volumes show no clear preference, as BTC’s $60K puts and $70K calls are among the most actively traded strikes in the past 24 hours.
Token Activity
- Lighter's (LIT) impressive rally continued on Monday, gaining 5% since midnight UTC and bringing its 24-hour increase to 13.5%, as traders seek the next hyperliquid asset (HYPE).
- LIT is the native token of its decentralized derivatives exchange, which has accumulated $40 billion in trading volume over the last 30 days, according to DefiLlama.
- The week also got off to a strong start for PYTH, which is up 6% since midnight UTC as traders shift Bitcoin profits into more speculative altcoin investments.
- CoinMarketCap's Altcoin Season indicator rose to 52/100 on Monday, the highest it has been in three months, indicating a resurgence of optimism in the altcoin market.
- Nonetheless, this indicator is lagging due to the underperformance of certain segments of the market, such as JITO, BEAT, and STABLE, which have each dropped between 5% and 13% over the past week, with further declines on Monday.
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By CoinDesk ResearchJun 30, 2026Commissioned byGenZcashThe Tachyon upgrade for Zcash aims to enhance shielded payments, bolster quantum readiness, and evaluate the sustainability of its funding, security, and governance.
Why it matters:
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