Crypto Market Today: IMX, AVAX, HASH Rally as Majors Trade Little Changed
The post Crypto Market Today: IMX, AVAX, HASH Rally as Majors Trade Little Changed appeared on BitcoinEthereumNews.com.
The biggest tokens traded sluggishly as traders awaited Wednesday's Federal Reserve meeting. Solana's sol (SOL) stood out with near-record open interest in the CME-listed futures. Privacy-focused monero (XMR) rose 6% over 24 hours, looking past the massive blockchain reorg that raised centralization concerns. Other gainers were IMX, up nearly 13%, AVAX, adding 6%, and HASH, which traded 4% higher. Key market signals painted a mixed picture, warning of an uptick in volatility after the Fed decision. “On the surface, the ETF MVRV has climbed to 2.29, and liquidity prints show strong institutional bids,” Timothy Misir, head of research, BRN, said in an email referring to the market value to realized value ratio. “Below the surface, spot cumulative volume delta weakened even as momentum indicators turned overbought. That mismatch momentum without broad participation is the classic set-up for a headline-driven retracement or a sharp follow-through if the Fed meets market hopes.” Derivatives Positioning By Omkar Godbole Most major cryptocurrencies, including BTC and ETH, continued to experience capital outflows from futures, leading to a decline in open interest. AVAX stands out with OI rising over 14% as the token's market cap looks to climb above $13 billion for the first time since Feb. 2. Solana OI has reached a record high of over 70 million SOL, with positive funding rates pointing to bullish capital inflows. On the CME, OI in solana futures pulled back to 7.63 million SOL from the record 8.12 million SOL on Sept. 12. Still, the three-month annualized premium holds well above 15%, offering an attractive yield for carry traders. BTC CME OI continues to improve, but overall positioning remains light relative to ether and SOL futures. On Deribit, the bias for BTC and ETH put options continues to ease across all tenors as traders anticipate Fed rate cuts.…
