BTC Chops, Z-Cash Rocks
- - BTC Chops, Z-Cash Rocks
Ben BriodyNovember 7, 2025 at 3:06 AM
0
Quick Read -
BTC continues its rangebound trading
Z-Cash is unstoppable, clears $500 with ease
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BTC has begun the day trading down once again, trading around the $102,000 level. With little macro data to influence markets this week outside of ADP and JOLTS, BTC seems poised to chop around until a solid development unfolds. Funding rates are starting to pick back up, with Binance showing nearly 6% annualized on perpetual futures and a few lower tier exchanges ticking back up to the 10-12% range. Options markets are showing a range of positions, with sizable open interest for calls above the $112,000 level for the end of November expiry. To counter this, there are a few hundred contracts open at the 85,000/90,000 strike level for puts. Skew still shows implied volatility priced higher for the puts, creating greater cost to take a defensive position. Call holders hope to be rewarded in this scenario, betting that the US government shutdown will end, and we will get more dovish messaging from the Fed ahead of the December FOMC.
Z-Cash continues to be the hero, up 9% on the day after rocketing past the $500 level. During the run up, funding rates on some perpetual exchanges like Hyperliquid were showing -400% annualized, an absolutely crazy funding rate for an asset that has been up only. This has been eliminated in the last 24 hours, with funding back to 2% annualized. With minimal trading venues for spot, and market makers often unable to participate in ZEC due to regulations on privacy coins, it has been a bull’s dream. With integrations into other protocols and more markets becoming available in recent weeks, it is no surprise that this arbitrage opportunity has come back down to earth. There seems to be no stopping the Z-Cash train. Is the privacy meta fully on?
Source: “AOL Money”
