Market Update 10/20

MARKET UPDATE

Boom! Bitcoin rallied to near ATH after gold pushed market sentiment higher to near $2,800per gold oz., and digital assets like BTC and ETH enjoyed the rally as well! Bitcoin reference rate ended week on $ 68 455 🔺11.25% ended and Ethereum $ 2 693 🔺10.78%.

According to our CB Benchmark index, the altcoin DFA 250 market index is also performing with Currency category edging Infrastructure and Financial. Dogecoin performed surprisingly the best at 🔺29 % , Litecoin 🔺16 %, Bitcoin Cash 🔺14% and Bitcoin SV 🔺13 % .

Total crypto currency market capitalization is currently at $ 2.35 trillion USD, up $ 22 billion from seven days ago. BTC and ETH total market capitalizations declined over the past week, with Bitcoin $ 1.230 T ($ 125 billion increase) and $ 324 B ($ 125 billion increase), with BTC/ETH 4.19x ratio. Bitcoin dominance of the total market capitalization is at 57.58% an increase of 88 basis points or 0.0088 % since last week.

CME GROUP - FUTURES AND OPTIONS

The Bitcoin futures and options total volume are higher with 20,109 total contracts (1 contract represents obligation to deliver 5 BTC coins) and the open interest of 35,692 (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 (68605), November 2024 (69400), December 2024 (69860) and January 2025 (70340). Bitcoin futures spread for year end 2024 is $ 1 735 or 2.53 %.

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CME Group Bitcoin

Market Performance Table

Bitcoin Performance Charts

TECHNICAL ANALYSIS

We are delighted to rely entirely on our metrics Cryptoken Board DFA 250 system, for pub post of 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 $ 68 604 will translate Current MARP 30 BTC is 97 / 100, suggesting that over the last 30 days, BTC price currently falls on the 48th percentile out of 100. MARP 60 is 98 / 100 and MARP 90 is 99 / 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) = 67.14. Values of MFI above 50 are indicating an expanding 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% ⬇️.