On Oct. 24, the Polymarket titled “Will CZ return to Binance by December 31?” (because nothing screams urgency like a deadline) has hit a 50% chance. Half the traders are shouting YES, while the other half are probably shrugging and saying, “Eh, maybe?” So far, this circus has racked up a trading volume of $45,974. Not bad for a guessing game. 🎪
Yet, alas, ’tis a fickle fortune! For though it strives to reach the dizzying heights of its former glory, it finds itself perpetually thwarted, beset by sellers of a most stubborn disposition. Some whisper that this grand bull run, as they term it, hath already breathed its last. Oh, the lamentations!
As per the BBC’s Oct. 24 report, this 90,000-square-foot marvel-er, public service-will be erected on the East Wing grounds, funded entirely by private donations. A veritable Who Framed Roger Rabbit of corporate generosity, with crypto firms leading the charge like they’re funding a blockchain-themed Las Vegas show.
As open interest hits levels that would make even the most hardened trader sweat, the market’s resilience is about to be put to the ultimate test. Will the prices dance or dash? Who knows! But one thing is certain: volatility has decided to take a coffee break – for now. ☕️
A Clear Pattern Emerging
Deribit, the crypto options exchange so dominant it makes black holes look indecisive, reported an all-time high OI of $50 billion. Their latest update, delivered with the urgency of a Vogon poetry reading, noted that “$100K puts are gaining traction.” Whether this means Bitcoin is heading for the moon or a dramatic faceplant remains to be seen.
Behold, XRP lingers at $2.40, a mere 1% uptick in the fleeting span of a day. It clings to its bastion, that sacred range between $2.30 and $2.40, as if holding a fragile teacup in a hurricane. Will it steady its course, or shall it plummet into the abyss of $2.25? The gods of charts alone know. 🤔
Fancy an exotic explosion of digital currencies? This proposed contraption, dubbed the T. Rowe Price Active Crypto ETF, will probably want to make cozy nests with anywhere between five to fifteen cryptos. Bitcoin and Ethereum, those celebrity children of the crypto family, are sure to be included, along with other alt-notables such as Solana, XRP, Cardano, and Litecoin-oh, Pinterest for the blockchain set.
Months of tightening price action? Sounds like a crypto version of a yoga class-everything’s tight, but no one’s really moving. 🧘♀️
Thompson’s thesis, as delicate as a moth’s wing, insists the October 10 open-interest purge was not a death knell for Bitcoin and Ethereum, but a prelude to a grander tale. “Behold! The positioning here is rare-a tempest of liquidation on the cusp of macro ‘goldilocks’,” he wrote, comparing the event to a Trumpian victory in 2024. “A 10/10 liquidation, cleansing leverage more fiercely than the entire Jan-Apr ’25 saga,” he declared, as if summoning a storm to clear the air.
