Chart of the Day
Catching Up. Despite a 15% plunge on Saturday and an extended weekend price decline, the Bitcoin market offloaded some pressure from the options expiry on Friday and resumed its recovery mode. The bulls that defended the key $30k resistance come largely from the spot market, while perpetual and futures remained net short. With the broader market sliding into a bearish slumber, the monthly value of ETH transferred, which surpassed BTC by 1.8 folds in May, is now on par with the largest cryptocurrency. So are stablecoins, whose overall treasury has plateaued in June.