Exploring the Forces Behind the Soaring Prices of WLD and JASMY
WLD Price Performance in the Past Month
WLD started at $3 on 2.15 and reached a peak of $9 on 2.22.
OpenAI released a new AI model, SORA, on February 15th, which can generate astonishing short films based on user input text, leading to a surge in the AI sector.
NVIDIA announced its fiscal Q4 2024 results after Wednesday's market close. Before the announcement, there was significant profit-taking, causing the stock price to drop by -2.85% in pre-market trading on 2.21. The reported revenue exceeded expectations, with Q4 revenue reaching $22.1 billion (net profit of $12.2 billion), representing a 22% increase from the previous quarter and a 265% increase from the previous year. On 2.22, the stock price rose by 16.4%.
In conclusion, AI and high-performance computing have become the most promising narratives for the future. However, it is important to note that Worldcoin and Sora are two completely different projects, and OpenAI and Worldcoin have not announced any relevant technical collaborations at this time.
JASMY recently monthly price trend
Jasmy (Japanese Bitcoin) soared from 0.0065 on 2.19 to a peak of 0.018 on 2.22, mainly benefiting from the Japanese government's active support and development of blockchain. The laws and regulations introduced by Japan allow for legal and compliant blockchain investments, proving support for investment and development in cryptocurrency assets by developed financial regions such as the United States, Japan, and Hong Kong. In addition, Japan's macro environment has also contributed to Jasmy's rise, with the continuous depreciation of the Japanese yen and the Nikkei index reaching a new high since the bubble economy, attracting a large amount of capital to chase after Jasmy."
The above is an analysis of events and the environment. In the face of the FOMO sentiment generated by the current overheated market, market investors need to exercise risk control and make cautious judgments.
Bitcoin halving is approximately 61 days away from today (2024.02.23)
Countdown to halving: https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00?_360safeparam=1289146171
Market Technical and Sentiment Analysis
Emotion Analysis Composition
Technical Indicators
Price Trend
In the past week, BTC price decreased by -1.14%, while ETH price increased by 5.27%.
The image above is the price chart of BTC in the past week
The image above is the price chart of ETH in the past week
Table showing the price change rate over the past week
Price-Volume Distribution Chart (Support & Resistance)
Over the past week, BTC price has been oscillating within a densely traded zone, while ETH price has risen and formed a high-level densely traded zone.
The above figure shows the densely traded zone distribution chart of BTC over the past week
The above figure shows the densely traded zone distribution chart of ETH over the past week
The table displays the intensive trading ranges of BTC and ETH for each week in the past week.
Trading Volume and Open Interest
In the past week, the trading volume of BTC and ETH peaked after a pullback from the breakthrough of 2.20; the open interest of BTC and ETH remained stable.
The top of the figure shows the price trend of BTC, the middle is the trading volume, and the bottom is the open interest. Light blue represents the 1-day average, while orange represents the 7-day average. The color of the line represents the current state: green indicates price increase with support from trading volume, red indicates closing, yellow indicates slow accumulation of positions, and black indicates congestion.
The price trend of ETH is shown in the top of the above image, the middle section represents the trading volume, and the bottom section represents the open interest. The light blue line represents the 1-day average, and the orange line represents the 7-day average. The color of the candlestick represents the current state, with green representing price increase with volume support, red representing liquidation, yellow representing slow accumulation of positions, and black representing crowding.
Historical Volatility and Implied Volatility
In the past week, BTC and ETH reached their highest historical volatility on February 20, 2024. The implied volatility of BTC remained relatively stable, while the implied volatility of ETH continued to rise.
The yellow line represents historical volatility, the blue line represents implied volatility, and the red dot is the 7-day average.
Event-driven
This week there is no event data.
Sentiment Indicators
Momentum Sentiment
Among Bitcoin/Gold/Nasdaq/HSI/CSI 300 in the past week, HSI performed the strongest, while Bitcoin performed the worst.
The above chart shows the performance of different assets in the past week.
Lending Rates_Lending Sentiment
In the past week, the average annualized return of USD lending was 13.5%, and the short-term interest rates decreased to around 11.2%.
The yellow line represents the highest price of USD rates, the blue line represents 75% of the highest price, and the red line represents the 7-day average of 75% of the highest price.
Table showing the average return of USD interest rates for different holding periods
Funding Rate_Contract Leverage Sentiment
Over the past week, the average annualized return of BTC funding rates was 14.5%, and the contract leverage sentiment has slightly improved.
The blue line represents the funding rate of BTC on Binance, and the red line represents its 7-day average.
Table showing the average return of BTC funding rates for different holding periods
Market Correlation_Consistency Sentiment
Over the past week, the correlation among the selected 129 coins has dropped to around 0.65, indicating diverging market trends among different types.
The blue line in the above image represents the price of Bitcoin, and the green line represents ['1000 floki', '1000 lunc', '1000 pepe', '1000 shib', '100 0x ec', '1inch', 'aave', 'ada', 'agix', 'algo', 'ankr', 'ant', 'ape', 'apt', 'arb', 'ar', 'astr', 'atom', 'audio', 'avax', 'axs', 'bal', 'band', 'bat', 'bch', 'bigtime', 'blur', 'bnb', 'btc', 'celo', 'cfx', 'chz', 'ckb', 'comp', 'crv', 'cvx', 'cyber', 'dash', 'dgb', 'doge', 'dot', 'dydx', 'egld', 'enj', 'ens', 'eos','etc', 'eth', 'fet', 'fil', 'flow', 'ftm', 'fxs', 'gala', 'gmt', 'gmx', 'grt', 'hbar', 'hot', 'icp', 'icx', 'imx', 'inj', 'iost', 'iotx', 'jasmy', 'kava', 'klay', 'ksm', 'ldo', 'link', 'loom', 'lpt', 'lqty', 'lrc', 'ltc', 'luna luna 2', 'magic', 'mana', 'matic', 'meme', 'mina', 'mkr', 'near', 'neo', 'ocean', 'one', 'ont', 'op', 'pendle', 'qnt', 'qtum', 'rndr', 'rose', 'rune', 'rvn', 'sand', 'sei', 'sfp', 'skl', 'snx', 'sol', 'ssv', 'stg', 'storj', 'stx', 'sui', 'sushi', 'sxp', 'theta', 'tia', 'trx', 't', 'uma', 'uni', 'vet', 'waves', 'wld', 'woo', 'xem', 'xlm', 'xm
Market Width_Overall Sentiment
Among the 129 coins selected in the past week, 85% of them are priced above the 30-day moving average, and 36% of them have a ratio higher than BTC's price above the 30-day moving average. 42% of them have a distance greater than 20% from the lowest price in the past 30 days, and 73% of them have a distance less than 10% from the highest price in the past 30 days. The market breadth indicator in the past week shows that the overall market is staying above the 30-day moving average and is close to the highest price. The stronger coins include 'agix', 'dgb', 'ant', 'gala', 'ocean', 'grt', 'rndr', 'rvn', 'loom', 'woo', 'stx', 'one', 'celo', 'hbar', 'vet', 'zec', 'chz', '1000 pepe', 'fil', 'bnb', 'ankr', 'stg', 'fet', 'audio', 'flow', 'hot', 'eth', 'trx', 'wld', 'cyber', 'ar', 'matic', 'jasmy', 'cvx', 'theta'.
The picture above shows ['1000 floki', '1000 lunc', '1000 pepe', '1000 shib', '100 0x ec', '1inch', 'aave', 'ada', 'agix', 'algo', 'ankr', 'ant', 'ape', 'apt', 'arb', 'ar', 'astr', 'atom', 'audio', 'avax', 'axs', 'bal', 'band', 'bat', 'bch', 'bigtime', 'blur', 'bnb', 'btc', 'celo', 'cfx', 'chz', 'ckb', 'comp', 'crv', 'cvx', 'cyber', 'dash', 'dgb', 'doge', 'dot', 'dydx', 'egld', 'enj', 'ens', 'eos', 'etc', 'eth', 'fet', 'fil', 'flow', 'ftm', 'fxs', 'gala', 'gmt', 'gmx', 'grt', 'hbar', 'hot', 'icp', 'icx', 'imx', 'inj', 'iost', 'iotx', 'jasmy', 'kava', 'klay', 'ksm', 'ldo', 'link', 'loom', 'lpt', 'lqty', 'lrc', 'ltc', 'luna 2', 'magic', 'mana', 'matic', 'meme', 'mina', 'mkr', 'near', 'neo', 'ocean', 'one', 'ont', 'op', 'pendle', 'qnt', 'qtum', 'rndr', 'rose', 'rune', 'rvn', 'sand', 'sei', 'sfp', 'skl', 'snx', 'sol', 'ssv', 'stg', 'storj', 'stx', 'sui', 'sushi', 'sxp', 'theta', 'tia', 'trx', 't', 'uma', 'uni', 'vet', 'waves', 'wld', 'woo', 'xem', 'xlm', 'xmr', 'xrp', 'x
Percentage of various width indicators for the 30th day: ['tz', 'yfi', 'zec', 'zen', 'zil', 'zrx']
Summary
This week, BTC oscillated within a range, and ETH oscillated at a high level after rising. The historical volatility and trading volume were highest when the price reached a new high on the 20th, and the open interest in BTC remained relatively unchanged while ETH saw a slight increase. The implied volatility of BTC remained mostly unchanged, while ETH continued to rise. The overall mainstream coins consolidated at high levels. The funding rate showed a slight rebound. The market breadth indicator of 129 Binance markets showed that the overall market remained above the 30-day moving average and close to the highest price. The coins with relatively strong performance include 'agix', 'dgb', 'ant', 'gala', 'ocean', 'grt', 'rndr', 'rvn', 'loom', 'woo', 'stx', 'one', 'celo', 'hbar', 'vet', 'zec', 'chz', '1000 pepe', 'fil', 'bnb', 'ankr', 'stg', 'fet', 'audio', 'flow', 'hot', 'eth', 'trx', 'wld', 'cyber', 'ar', 'matic', 'jasmy', 'cvx', 'theta'. On the event side, there was no data released this week, and we are waiting for non-farm payroll data next month.
Twitter: @DerivativesCN
Website: https://dcbot.ai/
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