Bitcoin, alone in market decline, maintains upward trend

BTC, maintained a surprising rise on the 25th and defended the $98,000 level
Altcoins, with liquidity flowing into BTC, fell on the 26th
Foreign media "Derivative market data predicts BTC rise"

BTC maintained the $98,000 level on the 26th, continuing the surprising rise it showed the previous day.

BTC briefly broke through $99,000 on the 25th, experiencing a surprising rise. As the 'Santa Rally' failed, whale wallets fully bought the sell-offs from short-term holders, causing BTC to rise temporarily by 5%.

However, as the buying pressure that could drive further gains disappeared, BTC fell slightly, maintaining the $98,000 level.

Despite BTC's solid defense, the decline of Altcoins was significant. In a state where market liquidity has disappeared, funds have somewhat flowed into BTC.

Last week, Federal Reserve Chairman Jerome Powell announced an adjustment in the pace of interest rate hikes next year during the FOMC press conference. Subsequently, the cryptocurrency market itself saw a decline in liquidity.

◇BTC = As of 4 pm on the 26th, based on Upbit, the price of BTC is 14,632 million won. BTC dominance was 58.61%.

According to on-chain analysis platform Glassnode, the long (bullish) and short (bearish) betting ratio in the BTC futures market was 54.06% and 45.94%, respectively.

Based on data from the derivatives market, foreign media predicted a rise in BTC. Cryptocurrency media Cointelegraph forecasted on the 26th that BTC will rise above $100,000 again, referring to data from derivatives analysis firm Laevitas.

According to Laevitas' data, the monthly futures contract price of BTC in the futures market is trading about 12% higher than the spot price of BTC on the 26th. Generally, when the monthly futures contract price of BTC exceeds the spot price by about 5-10%, the market sentiment is evaluated as 'neutral'.

The BTC options market is also predicting a rise in BTC. BTC put options are trading at a discount of about 2% compared to call options. Generally, when the options market anticipates a market adjustment, put options are sold at a discount of more than 6% compared to call options.

◇Rising Coins = At 4 pm on the 26th, based on Upbit, the cryptocurrency that recorded the largest increase from the previous trading day was Movement (MOVE), which rose about 218% from 24 hours earlier.

The Movement coin made a three-digit 'listing boom' by being simultaneously listed on the top 3 cryptocurrency exchanges in South Korea: Upbit, Bithumb, and Coinone.

Movement is an Ethereum-based Layer2 blockchain network. It is a project launched to improve the scalability (speed) that has been a chronic limitation of Ethereum.

◇Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is 79 points, entering the 'Greed' stage. The Greed stage is a period of high price volatility and trading volume, where prices are rising. There is a high possibility of forming a short-term peak, so caution is required when selling.

The Cryptocurrency Relative Strength Index (RSI) provided by Glassnode is 52.1, recording a 'neutral' state. RSI is an indicator that represents the relative strength between the upward and downward pressure on the price of a specific asset, indicating the overbought and oversold levels of the asset.