CoinDesk
Bitcoin climbed back above $81,000 as a rally in Asian chip stocks lifted risk appetite. South Korea’s Kospi jumped 6.6%, SK Hynix surged around 11% after reporting a sevenfold profit increase, and Nasdaq-100 futures rose 0.5%. U.S. spot bitcoin ETFs recorded $176 million in inflows on Tuesday, their second consecutive day of gains.
Why it matters
The rebound is arriving alongside strength in technology shares and renewed ETF demand, but derivatives data point to measured positioning rather than a rush into leverage. Crypto futures volume rose 7.5% to $163.2 billion over 24 hours, while open interest increased just 1.3%. Liquidations climbed 38% to $183.6 million, and long and short taker activity was nearly balanced.
Bitcoin rose 2.3% while its open interest slipped 0.1%. Ether gained 2.7%, with open interest up 1.7%. Funding rates for both remained close to the 0.01% baseline, indicating limited crowding in perpetual futures. Bitcoin and ether accounted for the largest liquidations, at $56.4 million and $46 million.
Market impact
Bitcoin’s one-week put-call skew on Deribit fell to below 1%, from nearly 10% a week earlier, signaling reduced demand for near-term downside protection. Longer-dated skews still showed a pronounced preference for puts. Traders also face the Federal Reserve’s rate decision and Chair Kevin Warsh’s press conference; CME FedWatch showed a roughly 92% chance of no rate change.
Pepe rose 9.4% after Arkham Intelligence said wallets it links to Tron founder Justin Sun held around $51 million of PEPE. Ether advanced 0.9% in the initial market snapshot, while Zcash showed a stronger positioning signal: open interest rose 14% against a 6.3% price gain. The next test for the broader rebound is whether ETF inflows continue as traders digest the Fed decision and major technology earnings.
Frequently asked questions
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How much did U.S. spot bitcoin ETFs attract?
U.S. spot bitcoin ETFs recorded $176 million in inflows on Tuesday, marking a second consecutive day of inflows.
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Did futures positioning confirm a broad increase in leverage?
Not strongly. Futures volume rose 7.5% to $163.2 billion, but open interest increased only 1.3%.
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What did bitcoin’s one-week options skew indicate?
The one-week put-call skew fell below 1% from nearly 10% a week earlier, indicating easing demand for near-term downside protection. Longer-dated skews still favored puts.
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What is the Fed outlook traders are watching?
CME FedWatch showed roughly a 92% chance of no rate change. Traders were also watching Chair Kevin Warsh’s press conference for clues on the rate outlook.
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Why did PEPE rise 9.4%?
PEPE advanced after Arkham Intelligence said wallets it links to Tron founder Justin Sun held around $51 million of the token.
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