市场包装: Bitcoin Bumps to $38.6K While DeFi Exchanges Hit $50B

Analysts believe Elon Musk’s shout-out to crypto pushed bitcoin’s price upwards at a time when decentralized exchanges are experiencing record amounts of trading volume on the Ethereum network. Excessive fees could damp that, 然而.

  • 比特币 (比特币) 交易 $34,616 作为 21:00 世界标准时间 (4 下午. 和). Climbing 5.9% 在以前 24 小时.
  • 比特币的24小时范围: $31,984-$38,566 (硬币台 20)
  • BTC well above the 10-hour and 50-hour moving averages on the hourly chart, 市场技术人员的看涨信号.

Bitcoin trading on Bitstamp since Jan. 26.
资源: 交易视图

Bitcoin’s price jumped massively Friday. In the span of an hour, starting at 9:00 世界标准时间 (4 上午. 和), the world’s oldest cryptocurrency gained 11%, 从 $33,377 至 $37,113 according to CoinDesk 20 数据. Over the next five hours, bitcoin hit a 24-hour high of $38,566 before increased sell orders started to take over the market, with the price per 1 BTC at $34,616 截至发稿时间.

阅读更多: Kraken, Coinbase Suffer Outages Amid Market Volatility

Analysts point to the legendary social media habits of serial entrepreneur Elon Musk as a catalyst for bitcoin’s Friday price pop. “Elon’s ‘bitcoin’ logo added to his Twitter feed kicked us off on the aggressive move higher,” said Chris Thomas, head of digital assets for Swissquote Bank. “His comments triggered huge buy stop losses on Binance and likely the other Asian exchanges as leveraged traders had to close their short positions.”

阅读更多: Musk-Prompted Bitcoin Price Surge Causes Liquidation of $387M in Shorts

确实, total liquidations across the entire crypto market over the past 24 hours was the highest in three months, at over $850 million on the short side, according to aggregator Bybt. Liquidations are the crypto equivalent of a margin call: When a leverage trader’s position moves against price, it is bought or sold automatically to begin to wipe out any potential liability.

Liquidations long (绿色) and short (红) with BTC price (橙子).
资源: Bybt

“The red pullback is absolutely natural given how much we have moved,” Swissquote’s Thomas added. “We’ll likely find a new base – perhaps with $35,000 support – and trade sideways to slightly higher, assuming no more news.”

Historical bitcoin price the past week.
资源: 硬币台 20

Some good news for brokerages: Crypto spot volumes perked up Friday, 至 $8.7 billion as of press time, the second-highest level over the past month, according to the eight USD/BTC exchanges the CoinDesk 20 tracks.

Spot volumes on major CoinDesk 20 交流.
(Shuai Hao/CoinDesk)
资源: 加密比较

Prior to the Musk motions, the crypto market had been in the doldrums. “Investors were focused on other big events like earnings and the [Federal Reserve],” noted David Russell, vice president of market intelligence for trading platform TradeStation. “They would have come back to crypto regardless because of the institutional adoption trend, but Musk lit a fire under their feet.”

Funding rates for long leverage are jumping to a level not seen since bitcoin’s record high Jan. 8, when the price hit $41,962, according to CoinDesk 20 数据. It’s a sign traders are emboldened by the short liquidations to fuel up some long trades right now.

Bitcoin swaps funding on major venues the past month.
资源: Skew

It will be interesting to see how bitcoin performs over the weekend because crypto never sleeps. Major equities indexes on Friday are awash in red. Could traders jump on cryptocurrency markets to find weekend opportunities?

“This has been a tremendous week for retail trading across multiple asset classes,” noted James Putra, head of product strategy at Tradestation. “Since most other asset classes are closed later today, we are excited to see if the 24/7 crypto markets benefit from the retail trading enthusiasm.”

DEX volumes hit $50 billion in January monthly volume

醚 (ETH), 市值第二大加密货币, was up Friday trading around $1,348 和攀登 0.81% 在 24 截至小时 21:00 世界标准时间 (4:00 下午. 和).

Monthly decentralized exchange, or DEX, volumes for major projects in the Ethereum ecosystem have eclipsed $50 十亿, according to data aggregator Dune Analytics.

In first place is long-standing bellwether Uniswap, 与 $23.3 billion for January so far, almost half of the total volume. Uniswap is followed by $10 billion by its smart contract fork rival SushipSwap and then $5.8 billion for stablecoin-focused exchange Curve. I trade a lot on DEXs. They have deeper liquidity and less slippage than traditional exchanges,” noted Michael Gord, chief executive of trading firm Global Digital Assets.

Decentralized exchange volumes the past two years.
资源: 沙丘分析

然而, Peter Chan, head trader at quantitative firm OneBit Quant, cautioned that centralized exchanges (CEX) still rule despite the record volumes on DEXs. “This is remarkable and I am happy for the development of DeFi,” Chan told CoinDesk, referring to decentralized finance. “But it’s still a long way to go compared to volumes on a CEX.”

According to CoinGecko, volume the past 24 hours on centralized exchange Binance was $34 billion as of press time.

Chan noted that DEX fees can also be staggering. “Gas price is still going to be a major problem for DEXs. Especially for small trades, gas fees could take up to 20%-30% of the trade.”

其他市场

CoinDesk上的数字资产 20 are mixed Friday, mostly higher. 截至 21:00 世界标准时间 (4:00 下午. 和):

此外, meme-focused cryptocurrency dogecoin (狗狗), which is not currently part of the CoinDesk 20, has seen a price appreciation of over 120% 在过去的 24 小时, mostly because of high activity on social media.

阅读更多: 随着价格飙升,狗狗币成为Twitter上最受关注的加密货币

著名的失败者:

大宗商品:

  • Oil was up 0.20%. 西德克萨斯中质原油每桶价格: $52.18.
  • Gold was flat, in the green 0.09% 在 $1,843 截至发稿时间.

国库券:

  • 美国十年. Treasury bond yield climbed Friday to 1.077 and in the green 2.8%.

The CoinDesk 20: 对市场最重要的资产

揭露

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资源: Coindesk

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