Market Update 10/13

MARKET UPDATE

Bitcoin enjoyed another rocky week, with the world largest digital currency settling at $ 62 255, similar to $ 62 750 from the seven days ago. According to our CB Benchmark index, altcoins are also performing similar to BTC with the largest gainer being Z-Cash $ZEC 23% 🔺 privacy oriented crypto currency providing shielded addresses as well as the regular format addressed used by Centralized Exchanges.

Total crypto currency market capitalization is currently at $ 2.13 trillion USD. BTC and ETH total market capitalizations declined over the past week, with Bitcoin falling to $ 1.230 T (decrease from $ 1.232 T) and $ 294 B (slight increase from $292 billion), with BTC/ETH 4.19x ratio. Bitcoin dominance of the total market capitalization is at 56.70% up from a flat 50.00% since the beginning of the year on January 1st 2024.

CME GROUP - FUTURES AND OPTIONS

Bitcoin futures and options volume are higher with 17,000 total contracts (1 contract represents obligation to deliver 5 BTC coins) and the open interest of 30,942 (volume indicates the number of contracts traded within a specific period, giving a snapshot of trading during that time. Open interest reflects the number of outstanding contracts that have been opened but not yet closed or settled).

The futures curve for month end October (63305), November 2024 (63840, December 2024 (64240) and January 2025 (64740). Bitcoin futures spread for year end 2024 is $ 2 310 or 3.7%.

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CME Group Bitcoin

Bitcoin Performance Table

Bitcoin Performance Charts

TECHNICAL ANALYSIS

We are relying entirely on the metrics produced by Cryptoken Board DFA 250 system, for our market commentaries.

#Bitcoin
○ Moving Average Rank Quantile [MARP] - is a statistical metric attempting to better explain stochastic variable with random returns (with a drift) like Bitcoin price taking into consideration both convexity and curvature of non-normal probability distributions. MARP is produced for every single digital asset in our market universe.

Bitcoin current price $ 62 255 will translate Current MARP 30 BTC is 48 / 100, suggesting that over the last 30 days, BTC price currently falls on the 48th percentile out of 100. MARP 60 is 67 / 100 and MARP 90 is 58 / 100 ( we are looking for any divergence in the marp 30-60 and marp 30-90 spreads ).


○ Money Index Flow - For this week, BTC's Money Flow Index MFI (14) = 33.61. Values of MFI below 50 are indicating a contracting market. or The Money Flow Multiplier is volume based oscillator, using both price changes and trading volumes by keeping track magnitude of UP days and DOWN days. It determined by the relationship between a period’s closing price and the period’s high/low range, adjusted for 14/30/60/90 days, trailing.

#Ethereum
○ $BTC / $ETH (inverse quotation) for the past 7 days Ethereum has been relatively flat with BTC under-performing by 0.40% ⬇️.