Bitcoin rose to about $83,500 on Wednesday, reaching its highest level in a week after gaining 0.6% since 00:00 UTC, according to CoinDesk. The move was linked to a rebound in risk assets following earnings-driven strength in Asian technology stocks. Zcash also stayed in focus after developers set an activation date for the NU7 upgrade, with the privacy coin’s 24-hour gain widening to about 11%.
In derivatives, 24-hour crypto futures volume climbed to $190 billion, up 19%, while open interest reached $145 billion, up nearly 4%. Liquidations totaled $284 million, a 76% increase. ZEC-specific open interest rose 24%, alongside a 12% price gain, a combination that pointed to fresh positions entering the market. At the same time, Bitcoin’s 30-day implied volatility index, BVIV, fell below 40%, and Ethereum’s EVIV showed a similar pattern, indicating calmer expectations for near-term price action.
Bitcoin touched a one-week high on Wednesday, trading at about $83,500. According to CoinDesk, BTC was up 0.6% since 00:00 UTC as risk assets found support from a rebound tied to earnings in Asian technology stocks.
Zcash keeps climbing after NU7 date is set
Privacy coin Zcash extended its advance after developers confirmed an activation date for the NU7 upgrade. Its 24-hour gain widened to about 11%.
Derivatives activity picks up
Across the derivatives market, 24-hour crypto futures volume reached $190 billion, up 19%. Open interest stood at $145 billion, up nearly 4%, while liquidations came in at $284 million, a 76% increase.
For ZEC, open interest rose 24% and the token price gained 12%, indicating that new positions were added.
Implied volatility eases
Bitcoin’s 30-day implied volatility index, BVIV, has fallen below 40%. Ethereum’s EVIV showed a similar calm reading, suggesting investors expect steadier market conditions.
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