Bitcoin holds steady near $64,000 as monero, hyperliquid outperform
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- Bitcoin held near $63,600 after July CPI came in at 3.4% YoY (matching forecasts) with core inflation easing to 2.5% from 2.6%, gaining 0.30% since midnight while the broader crypto market cap dropped 0.54% to $2.18 trillion.
- CoinMarketCap's Fear and Greed index sits at 38 ("fear"); the producer price inflation figure due at 12:30 UTC could provide fresh impetus to the lackluster market.
- Monero (XMR) rose 3.15% since midnight to roughly $404, extending a weekly gain above 11%, while Hyperliquid's HYPE token added 1.75% to $57 with a 2% weekly gain.
- XRP futures open interest held at 2.67 billion tokens (highest since October) for a third straight day, with negative 24-hour cumulative volume delta flagging bearish bets, though an annualized funding rate near 8% shows a bullish lean.
- ADA and BCH both posted funding rates of -10% or lower, signaling heavy bearish positioning; ADA's open interest sits just shy of its record high of 2.79 billion tokens, suggesting traders are adding fresh short exposure at peak participation.
- A trader bought a large block of Bitcoin call options at the $65,500 strike paying $1.07 million in premium — an ultra-short-term bullish bet expiring August 15.
- Curve (CRV) fell 8.38% over 24 hours to 25 cents, giving back part of Wednesday's surge though it remains up more than 22% on the week after breaking a months-long descending trendline.
Why it matters: Crypto derivatives are flashing split signals: XRP's highest-since-October open interest paired with negative CVD points to a possible drop below $1, while ADA's near-record OI combined with funding rates below -10% means traders are stacking fresh shorts at peak participation — both setups that could amplify downside if the 12:30 UTC PPI print surprises hawkish.
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