Bearish feeling strengthens the work before us, the expiration options

Bitcoin BTC$110,950.75 is lower than what was not 24 hours ago, down approximately 0.7%, but still firmly in the range which forced it since the last week of August. The drop has become a little more pronounced since midnight UTC, with a drop of about 0.9%.

For the wider market, the Coindesk 20 index has dropped 1.3% since midnight, with all the components except one heading south. Xrp Xrp$2.8447 is the only token in green, and it’s less than 0.1%.

The negative feeling is taken up in perpetual options and markets. Perpetual financing rates have dropped and put options, or protection against price reductions, dominating calls. Friday, more than $ 4.5 billion in options should expire, in parallel with the US job report for August.

“The open interest is tilted towards the Put, with a significant grouping around the strikes of $ 105,000 to $ 110,000, which suggests that downward protection remains a key theme,” said the exchange of derivatives in an article on X.

Positioning of derivatives

• The positioning of BTC derivatives has cooled, the activity is still there however, with momentum and a directional conviction in search of a mute rather than stagnant.
• The open interest in perpetual term contracts in the main places has increased from the recent summit nearly $ 33 billion to around $ 30 billion.
• At the same time, the three -month annualized database continues to compress about 5% to 6% in the binance, OKX and drinks, leaving the trade in marginally profitable transport.
• Options data send mixed signals. Although the upward implicit volatility curve suggests that the market expects the long -term volatility to be short -term short, other measures indicate a more immediate bearish perspective.
• More specifically, the 25 Delta Skew continues to be flat or slightly negative, traders paying a bonus for calls on calls to obtain downward protection. This short -term lowering feeling is contradicted by a 24 -hour put call volume, with calls (63%) Dominating Options Contracts for BTC.
• The APR financing rate in the main perpetual exchange sites is little changed around 4% to 6% annualized, according to VELO data. The hyperliquid is the only exchange with a rate above 6% for the BTC, reflecting a pocket of long -term interest in the highest term compared to other exchanges. Overall, the financing dynamics suggest a stable market with isolated moss signs, rather than a large directional conviction.
• Coinglass data shows $ 225 million in liquidation 24 hours a day, with a 50-50 division between long and shorts. Ethn ($ 65 million)BTC ($ 46 million) and others ($ 19 million) were the leaders in terms of theoretical liquidations.
• The Binance liquidation thermal card indicates $ 110,250 as a basic liquidation level to monitor, in the event of a price drop.

Talk about tokens

By Oliver Knight

• Donald Trump Linked Defi Token Word Liberty Financial (WLFI) Thursday at a record level of $ 0.174 while the popularity of the token begins to fade a few days after its debut in negotiations.
• The daily withdrawal of 21% can be allocated to a certain number of factors, including the fact that certain holders of tokens are still in profit after the purchase during the sale of tokens. These holders will be tempted to lock their profits while the media threw around the project fades.
• A merchant won $ 250 million after buying $ 15 million on sale, another lost $ 2.2 million after doing WLFI’s term contracts for a long time.
• Although the WLFI is linked to the American president, in terms of development and innovation, there is nothing obvious to differentiate it from the thousands of other deficited token. As a result, traders can be inclined to jump the ship until they see the development of the project.
• “The WLFI team, stop sleeping and start to act. The community is already angry, at least do not lose the last remaining investors,” wrote a holder on X.
• The graph is strangely like Trump Memecoin who was published in January. After an initial increase, Trump lost 89% of its value and daily volume increased from $ 39 billion on the opening day to only $ 210 million in the last 24 hours.
• In an attempt to suppress the sale pressure, the project revealed on X that the WLFI held by the team would not be sold on the free market, declaring that each token in the treasure would be subject to governance and not to the discretion of the team.
• The tweet did not reach the decline and the prices continued to tumble shortly after.

Saksham Diwan contributed to this report.