Crypto Markets Today: Gold Tokens Shine as Bitcoin Rises to $89,800
Bitcoin rose to about $89,800 amid a weakening dollar and rising technology stocks, with 30-day implied volatility near 45%.
Gold-backed tokens reached record highs, with XAUT trading around $4,411.60 and hitting an intraday high of nearly $4,425. The total market value of gold-backed tokens is approximately $4.38 billion, with PAXG and KAU also showing gains.
Curve DAO rejected a proposal to allocate 17.45 million CRV tokens (worth about $6.3 million) to Swiss Stake AG for development due to concerns over transparency; 54.46% of voters opposed, while 45.54% were in favor. Notably, Yearn Finance and Convex Finance wallets voted against the proposal.
Digital asset investment products experienced a net weekly outflow of $952 million, marking the first outflow in four weeks.
CME Bitcoin futures open interest fell below 120,000 BTC for the first time since early 2024, although BTC and ETH open interest saw slight increases. Funding rates indicated negative signals for BCH, SHIB, WLFI, and TON in perpetual markets, while major cryptocurrencies maintained mildly positive funding rates. Ethereum implied volatility stood around 70%, the lowest since October 9.
BTC and ETH put options traded at a premium over calls, signaling a continued put bias that has weakened since the previous Friday.
S&P 500 futures opened up about 0.3%, while Asian equities advanced, driven by gains in Tencent, Apple-like technology companies, TSMC, and Samsung, which helped ease concerns about an AI bubble.
