What to know:

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Market Overview:

Bitcoin continues to capture traders’ attention as it stabilizes around $107,768.15, amid ETF inflows and selling pressure from long-term holders. This stability is reflected in reduced volatility, with Deribit’s DVOL falling below 40%, the lowest it has been in almost two years.

Market Insights: According to Jimmy Yang, a co-founder of Orbit Markets:

“Compared to equities, Tesla and Coinbase vols are ~50% richer, highlighting just how quiet crypto has become. But calm rarely lasts. Historically, vol tends to bounce from here. With direction unclear—breakout or breakdown—going long volatility via vol swaps offers a clean way to position for a return of movement.”

A volatility swap is essentially a forward contract allowing investors to speculate on the future volatility of an asset.

In more news, President Donald Trump has expressed a desire for interest rates to decrease to 1% from the current 4.25%-4.0% range, wishing for the resignation of Federal Reserve Chair Jerome Powell—though it is unlikely that rates will adjust until the labor market softens, per Dario Perkins, managing director at TS Lombard.

On the geopolitical front, Timur Suleimenov, the Governor of Kazakhstan, announced plans to set up a national crypto reserve, while Bhutan is set to boost its economy through crypto-backed tourism initiatives.

Additionally, Lido, a leading Ethereum liquid staking platform, has adopted a two-way governance model allowing staked ether holders (stETH) to delay or block proposals made by holders of its native token, LDO.

To keep a pulse on the general market, note that despite a recent jump in prices, open interest in offshore perpetuals has only dipped slightly.

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