Bitcoin Rebounds But Concerns Mount as Ethereum’s Perpetual Funding Turns Negative

Over the past weekend, the crypto market experienced a tumultuous blend of emotions, characterized by fear and greed, as Bitcoin plunged to lows of 64,500. However, it swiftly rebounded, with the leading asset surging back above the 67,000 mark.Ethereum’s Rocky Road Amidst Bitcoin’s Resilience

Interestingly, amidst this sentiment shift, there’s a notable inclination towards greed, evidenced by the increasing interest in long-dated Sep and Dec BTC calls targeting lofty price levels of $100-150k.

Its network also witnessed a notable surge in activity, characterized by increased daily transaction volumes and ETH transfers. However, the current elevated MVRV Ratio implied that ETH might be overvalued.

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