Altcoin Season Index

Another day, another once unthinkable crypto exchange traded fund filing. Several Solana ETF applications have become the latest such proposed investment vehicles to reach the starting gate. In a regulatory filing Tuesday the Securities and Exchange Commission (SEC) opened up public comment on the "Canary Solana Trust," a proposed ETF from Canary Capital that would bring SOL investing into mainstream finance. The SEC acknowledged similar filings from VanEck, 21Shares and Bitwise later in the day. The filing amounts to a clock-setting for these companies' proposed investment vehicle. In 21 days the SEC will render a verdict (approval or denial) or, perhaps more likely, kick the decision can with deadline extensions. Market observers are broadly bullish that SOL and other altcoins will win their own ETFs this year, but the exact timing and order is unclear. What's more seemingly apparent is the SEC's newfound willingness to look favorably upon the industry, and past the regulator's old misgivings under former Chair Gary Gensler. Donald Trump's return to the White House created an opening for Canary to act aggressively. The firm's looking to list altcoin ETFs for assets like Solana that would have been nonstarters under the old regime. Grayscale's prospective Solana ETF reached this starting gate last week, meaning its 21-day fate will come a few days before Canary's – and likely be a "canary in the coal mine" for both. Source: CoinDesk Futures Market Updates ETH is reaching an oversold level. Bitcoin Futures Updates Total BTC Open Interest: $60.88B (+1.78%) BTC Volume (24H): $69.27B (+17.24%) BTC Liquidations (24H): $36.16M (Long)/$7.95M (Short) Long/Short Ratio: 49.57%/50.43% Funding Rate: 0.0073% Ether Futures Updates Total ETH Open Interest: $22.23B (-1.50%) ETH Volume (24H): $32.49B (+14.07%) ETH Liquidations (24H): $23.57M (Long)/$6.81M (Short) Long/Short Ratio: 48.91%/51.09% Funding Rate: 0.0059% Top 3 OI Surges SYN: $17.72M (+301.06%) IDEX: $1.56M (+269.72%) AXL: $7.11M (+77.39%)

Numerous cohorts of Ethereum addresses added over 330,000 ETH in the last two weeks. Is this a sign that a $5,000 ETH price is in the making? Ethereum’s native token, Ether , currently ranks as the only cryptocurrency in the top 10 by market capitalization to show a negative return over the past 30 days. With crowd sentiment dropping to a new low each week, the altcoin is desperate for a bullish revival, and onchain data suggests it might come sooner than later. MAXPAIN, a crypto markets analyst, highlighted that Ether addresses holding between 1,000 to 10,000 ETH have accumulated 330,000 ETH since Jan. 7, valued at over $1.08 billion. Previously, ETH accumulation of such size occurred in April, when the same cohort of addresses amassed over 620,000 ETH. The altcoin witnessed a 66% upswing thereafter. The crypto trader also noted the consequent increase in daily active addresses, with network growth rising to 180,000, which may imply a fresh capital inflow. With most of the market moving on from Ether’s lackluster performance over the past month, multiple traders were eyeing the current market setup as a potential bullish opportunity. Jelle, a long-term crypto investor, identified the formation of an inverse head-and-shoulders pattern within another bullish setup of ascending triangles on the weekly chart. The probability of a bullish breakout improves significantly with the price converging within a couple of bullish confluences, as the analyst hinted at the possibility of price discovery for the altcoin. In fact, Alec, a derivative trader, said Ether was developing a tightening on both the 30-minute low time frame (LTF) and 1-day high time frame (HTF). With liquidity present on both sides of the spectrum, the trader said, “A larger move is on the horizon for ETH. Take the liquidity and run the opposite way? But which way??" Lastly, Cold Blooded Shiller, a markets analyst, opined on the dismissive nature of the industry on Ethereum right now and said, “$5k $ETH by March, and this will be the saltiest space on Earth.” While $5,000 is an attainable target for Ether, its immediate hurdle remains at the $4,100 level. Since 2024, Ethereum has managed to break above a descending trendline on two separate occasions, but the overhead resistance at $4,100 has not been breached. Thus, for Ethereum to target $5,000, the immediate condition is to flip $4,100 into support on the daily and weekly chart. Once the price action has been accepted above the aforementioned level, Ether could rally to $5,000, but until then, the altcoin still needs to rally against bearish odds. Source: CoinTelegraph Futures Market Updates Funding rates and Long/Short ratio means markets might be anticipating a significant breakout or breakdown, with a bias toward downside risk. Bitcoin Futures Updates Total BTC Open Interest: $67.32B (-2.23%) BTC Volume (24H): $97.91B (-7.36%) BTC Liquidations (24H): $54.15M (Long)/$10.00M (Short) Long/Short Ratio: 48.73%/51.27% Funding Rate: 0.0100% Ether Futures Updates Total ETH Open Interest: $30.62B (-1.86%) ETH Volume (24H): $32.59B (-7.28%) ETH Liquidations (24H): $23.30M (Long)/$3.65M (Short) Long/Short Ratio: 47.73%/52.27% Funding Rate: 0.0091% Top 3 OI Surges FLOCK: $8.39M (+221.47%) MVL: $14.16M (+210.70%) VTHO: $39.52M (+107.79%)

Bitcoin rebounded to $96,500, adding 3% in 24 hours, following softer-than-expected U.S. Producer Price Index (PPI) data. This comes after Monday’s dip below $90,000, which was quickly bought up amid reports of Donald Trump’s pro-crypto executive orders planned for his January 20 inauguration. Ripple’s XRP and Dogecoin (DOGE) outperformed, leading the altcoin market with 6%-7% gains as the CoinDesk 20 Index rose 5%. The crypto market is watching two key events: Wednesday’s U.S. Consumer Price Index (CPI) report, expected to bring volatility, and Trump’s inauguration, anticipated to signal crypto-friendly policies. K33 Research previously suggested selling Bitcoin at the inauguration, anticipating it as a "sell-the-news" event. However, the early-year market sell-off has led the firm to revise this outlook, stating that selling would now depend on price momentum over the next week. Despite recent market turbulence, K33 remains bullish on Bitcoin’s long-term prospects, citing Trump’s potential positive impact on crypto. Meanwhile, traditional markets like the Nasdaq and SP 500 remained flat, as traders reassessed expectations for lower U.S. interest rates amid strong economic data. Bitcoin continues consolidating above $90,000 as global markets navigate rising bond yields and a volatile dollar. Source: CoinDesk Futures Market Updates In the past 24 hours, BTC futures showed a slight increase in open interest (+1.30%) while ETH futures saw a decrease (-1.30%), indicating stronger market engagement for BTC. Both markets experienced significant drops in trading volume, with BTC volume down 27.77% and ETH volume plunging 50.56%, highlighting a sharper decline in ETH activity. Liquidations were higher for BTC. The long/short ratio for BTC leaned slightly bullish (51.04% long), whereas ETH was nearly neutral (49.97% long), reflecting marginally different sentiment. Funding rates remained low for both, with BTC at 0.0072% and ETH at 0.0067%. BTC Futures Updates Total BTC Open Interest: $61.42B (+1.30%) BTC Volume (24H): $105.42B (-27.77%) BTC Liquidations (24H): $18.52M (Long)/$39.35M (Short) Long/Short Ratio: 51.04%/48.96% Funding Rate: 0.0072% Ether Futures Updates Total ETH Open Interest: $28.20B (-1.30%) ETH Volume (24H): $34.13B (-50.56%) ETH Liquidations (24H): $11.93M (Long)/$24.02M (Short) Long/Short Ratio: 49.97%/50.03% Funding Rate: 0.0067% Top 3 OI Surges 1000TOSHI: $3.81M (+677.98%) AIPUMP: $477.73K (+204.06%) PROS: $439.96K (+170.34%)