Bitcoin faces significant selling pressure with $1.8 billion in sell volume as the cryptocurrency retests the $63,000 level. The derivatives market is experiencing intensifying bearish sentiment amid broader US market tensions.
Bitcoin's funding rates have dropped to -6%, indicating heavy short positioning in derivatives markets. Combined with rising open interest and liquidations, this setup suggests potential for a short squeeze if the market moves against bearish positions.
Oil-linked futures on Hyperliquid's HIP-3 protocol surged 5% following U.S. and Israeli military strikes on Iran. The price movement reflects renewed market concerns about potential oil supply disruptions from Middle East geopolitical tensions.
Binance launched gold futures trading on January 5, offering 24/7 access to precious metal price exposure and surpassing $35B in gold volume. This expansion represents the growing convergence of traditional commodity markets with crypto-native trading infrastructure.