Bitcoin and ether prices remained stable on Tuesday, trading at $105,000 and $3,550, respectively, as the crypto market consolidated amid ongoing uncertainty. Traders are closely watching for potential price movements, with a drop below $98,000 for bitcoin signaling a bearish trend, while a rise above $111,000 could indicate bullish momentum.
Market volatility has been influenced by the strengthening U.S. dollar, with the DXY index climbing from 96.2 in mid-September to 99.58. Derivatives markets show a calm phase, with BTC and ETH 30-day implied volatility indexes remaining steady. On Deribit, there is a higher demand for BTC downside protection compared to ETH. Meanwhile, UNI contracts saw an 80% surge in open interest, and ether futures open interest on CME decreased to 2.10 million ETH. The altcoin market cooled after a weekend rally, with UNI gaining over 20% following a token burn proposal. The Canton Network token, backed by traditional finance firms, dropped 33% on its debut, now holding a $3.8 billion market cap.
Bitcoin and Ether Steady as Traders Eye Key Levels Amid Market Calm
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