"Bitcoin is working on defending the $92k level at this time of writing, as US markets head into close for the day. The range of $92k to $94k began yesterday, and looks set to continue. Both long and short traders have been liquidated this week from the market moving against their positions, with longs taking their turn today. Funding rates on BTC are mixed across venues, as market participants try and decipher what direction the market is heading in."
"ETH finally broke through $3,200 last night for the first time since mid-November, as excitement around the Fusaka upgrade brought some buzz to the Ethereum ecosystem. The second order effects for layer 2's from Fusaka could bring some much needed momentum into the end of the year. Funding rates on perpetual futures remain mixed for ETH, with negative annualized rates on some centralized exchanges, to positive rates on decentralized exchanges. These ranging markets have presented great opportunities for arbitrage traders."
Bitcoin is defending the $92,000 level within a $92k–$94k range as US markets approach close. Both long and short traders experienced liquidations this week, with longs liquidated today. Funding rates on BTC are mixed across venues. Options flow shows nearly 500 contracts in puts for the 26DEC25 expiry on strikes from $92k to $80k on Deribit, with slightly cheaper volatility on puts and rising call volume above the $100k strike. Ethereum surpassed $3,200 for the first time since mid-November amid Fusaka upgrade excitement. ETH perpetual funding is mixed, and end-of-year options show heavy call flows between $3,500 and $4,100, plus protective puts around $2,400–$2,700.
Read at 24/7 Wall St.
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