10x Weekly Crypto Kickoff - $112K BTC Battleground, Bulls Eye Upside, NVIDIA Earnings

The Week Ahead in Crypto Markets

Crypto market cap shrinks on higher volume: The Crypto market cap stands at $3.94 trillion, -1.3% smaller than the week before, with an average weekly volume of $177 billion, -12% lower than average. Weekly Bitcoin volume was $64.9 billion, -14% lower than average, while Ethereum volume was $47.6 billion, -9% lower than average. Ethereum network fees (0.32 Gwei) are in the 8th percentile range, which indicates low network usage.

Futures open interest continues to build as more long positions are put on: The Bitcoin funding rate rose by 10.6% this week to 15.4%, which is in the 81st percentile of the last 12 months. Futures open interest increased by $200 million to $40.1 billion. The Ethereum funding rate decreased by -2.7% this week to 8.2%, which is in the 39th percentile of the last twelve months. Futures open interest increased by $3100 million to $34.1 billion.