I noticed that the crypto market is slowly stabilizing this weekend, even if it’s a bit tedious to watch. BTC is hovering around 72.7K with a small +1.76% over 24h, while ETH is climbing a bit more to +2.44%, but honestly, not much is moving. What interests me more is what’s happening beneath the surface with derivatives. Open interest has leveled off, funding rates have returned to normal, but options tell a defensive story. Traders are hedging against a short-term drop; the skew has increased from 9% to 14%, which is costly for downside hedging. A classic signal of expected near-term volatility.

On the altcoin side, things are a bit more lively. QNT jumped 1.84% after its listing on Robinhood, while FET slips slightly to -0.38%. CoinMarketCap’s altseason index remains at 46/100, so the crypto market isn’t in total euphoria, but it’s not dead either. Liquidations continue (308 million en 24h), with BTC and ETH leading. I’m watching the 68.5K level on BTC as a critical liquidation zone if it drops. In summary, the crypto market shows deceptive stability with cautious signals in the background.