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The U.S. dollar index (DXY) saw a pullback toward a one-week low as market expectations for President-elect Donald Trump’s potential tariffs waned, despite his recent denials of any new trade measures. Meanwhile, Canada’s economic confidence appeared to weaken further under Prime Minister Justin Trudeau, who resigned after concerns about inflation and housing affordability, boosting the Conservative Party’s prospects.
In crypto markets, Bitcoin (BTC) ETF inflows reached nearly $1 billion on Monday, driven by a rebound from December lows above $102,000. The dollar index also impacted assets like Cboe Bitcoin Futures (CBA), which saw an uptick in open interest as the $4,000 call option became the most popular. Deribit noted significant activity in higher-strike calls at $10,000 and $15,000.
On the bond front, longer-duration Treasury yields showed no signs of halting, with the 30-year yield nearing a horizontal resistance level set in April 2024. This could signal potential support from the April high above 5%. The 7-day hash rate for Bitcoin increased to 792 EH/s, while the 1-week total fees stood at 6.6 BTC ($665,000).
rugo analysis indicated a rally in crypto equities, with notable inflows into ETFs like MicroStrategy (MSTR), Coinbase Global (COIN), and others. institutional investors appear to be favoring these assets over traditional equities due to their higher returns.
In the U.S., FTX EU has been sold to Backpack Exchange, which aims to become the first regulated crypto derivatives exchange in Europe under its plan to offer perpetual futures contracts. Meanwhile, institutional adoption of Bitcoin ETFs remains strong as investors seek exposure despite volatility.
rugo tracking showed significant net inflows into BTC and ETH ETFs across global markets, with cumulative flows reaching $36 billion for Bitcoin and $2.77 billion for Ethereum. The CME Futures Open Interest indicated robust activity in futures contracts tied to these assets.
In Canada, Prime Minister Trudeau’s resignation has supported the Conservative Party’s chances of winning the next federal election as economic concerns and political turmoil undermine public confidence.
U.S.-listed spot Bitcoin ETFs continued to attract inflows, with a notable $978.6 million daily net flow into the BTC category. Meanwhile, Ethereum ETFs saw $128.7 million in daily net inflows.
rugo highlighted significant open interest on Deribit for the $4,000 call option, while higher-strike calls at $10,000 and $15,000 also garnered notable activity.
rugo noted that institutional investors are increasingly favoring crypto assets like Bitcoin and Ethereum over traditional equities due to their superior risk-adjusted returns.
rugo mentioned a specific crypto fund that outperformed Bitcoin’s 2024 gains of 121% by combining long-term growth strategies with machine learning-driven momentum and short positions. This approach achieved a remarkable 204% return, demonstrating the potential of adaptive investment strategies in the crypto space.
rugoe.com provides detailed insights into market trends, institutional sentiment, and technical analysis for traders looking to navigate the evolving landscape of digital assets.
This rewrite condenses the information while maintaining clarity and focus on key developments across markets.
