Bitcoin ETFs End $2.8B Run as CLARITY Focus Shifts to Altcoins

Bitcoin stayed around $78,000 after the first US strikes against Iran in more than a month pushed oil higher and pressured stocks. Brent crude climbed above $90 per barrel, while gold slipped to $4,440 per ounce.

The oil move added to inflation concerns after Federal Reserve Chair Kevin Warsh’s hawkish Jackson Hole speech. The probability of a September rate increase rose to 58%, according to the figures provided.

Derivatives activity also accelerated. Twenty-four-hour volume more than doubled to $183 billion, while open interest stayed near $136 billion, suggesting heavy turnover without a comparable increase in new positioning.

Total crypto liquidations reached $431 million. Ether accounted for $130 million, ahead of Bitcoin’s $100 million, while SOL, XRP, and ZEC also ranked among the larger liquidation losses. Monero futures open interest rose 15% to 637,000 tokens as XMR gained 12%. Annualized perpetual funding approached 100%, while UNI open interest rose 12% as its price gained 5%.

Meanwhile, Bitcoin futures open interest stayed below 700,000, versus 801,000 on June 4. Bitcoin’s 30-day implied volatility index fell below 40%, while Deribit options activity showed strong demand for puts at $70,000, $73,000, and $74,000.

Also Read: Gold vs Bitcoin: Why Investors are Turning to Scarcity Assets