Stellar and Decred are doing fairly well while Bitcoin started a drop after the massive excitement that spurred the crypto markets a week ago. In the Bitcoin price news today, we take a closer look at the analysis and comparisons with other altcoins as well. A known low volatility movement is distinguishing the crypto markets today. Bitcoin even fell to some extent below $9,200, while the altcoins followed as usual.
A report by Delphi Digital that we issued in our news today, emphasizes the very important shift in market feelings this year as it was initially recognized by analysts, and according to the report, the bottoming phase of Bitcoin is over.
The amount of outstanding futures contracts, open Interest, was leaning very close to $1b during this year. The high figure pointed out two things according to the Delphi report: weariness of the bullish tendency, and rising weight over the spot market.
In fact, the quantity has fallen dramatically in the second part of the year, which increased the share of the futures market in contrast to spot trades. This could be clarified by amplified institutional curiosity. While Delphi highlights that it wasn’t necessarily massive it was certainly tougher than in previous periods, which led to Bitcoin dominance skyrocketing.
This attendance could also clarify the drop in instability periods: institutions are generally not as intense on leverage, and are not likely to be trading on the typically retail-focused cryptocurrency exchanges we know. Together with Stellar and Decred are important outliers nowadays, rising 7% and 9% so far respectively.
XLM’s increase can be attributed to the preceding release of the Protocol 12, an improve that removed the 1% yearly XLM inflation, as well as completing several stability improvements. Technical and sentiment indicators have also been optimistic for today, as the daily sentiment increased to roughly 65%.
Decred, on the other hand, needs an instantaneous elementary catalyst, with the exclusion of a visual update to Decred’s Politeia voting platform. But the noise surrounding the project’s new landmark has been one of the bigger influences up recently, as common daily sentiment is on a stable rise.
Decred’s key difference between Bitcoin and Ethereum has always been about governance. The successful launch of Politeia verifies that the project’s focal point has been carried out properly, gradually paying off dividends for its holders, at least for now.
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