41 min ago3 min readBitcoin's price over the past 24 hours. (CoinDesk)SummaryBitcoin held near $79,000 as traders took profits after the price climbed 23% in seven days. The broader CoinDesk 20 index fell 2.1% in the past 24 hours.Demand remained firm for U.S.-listed spot bitcoin exchange-traded funds, which recorded $314 million in net inflows Tuesday, lifting August inflows above $3 billion.Derivatives data showed growing short-term bearishness. Declining futures open interest and strong demand for bitcoin call options suggested consolidation rather than an aggressive turn against the rally.Bitcoin BTC$78,535.13 is holding around $79,000, down about 1.2% over the last 24 hours, as traders took profits after the largest cryptocurrency rallied 23% in seven days. The wider CoinDesk 20 (CD20) index fell 2.1% over the last 24 hours.Underlying demand, nevertheless, remains firm. U.S.-listed spot bitcoin ETFs took in $314 million on Tuesday in a seventh straight day of net inflows, bringing the month-to-date total to over $3 billion, according to SoSoValue data.Still, the speed of the rally is starting to leave the market exposed. Alternative.me’s Crypto Fear & Greed Index jumped to 74 from 27 less than two weeks earlier before easing back.Pedro Fontes, a research analyst at Mercado Bitcoin, identified $82,000 and $85,000 as the next resistance levels and said some consolidation would be natural after such a vertical advance.Gold, meanwhile, is little changed near $4,630 an ounce after reaching a three-month high. Asian equities advanced and U.S. stock futures are little changed ahead of inflation data and Nvidia’s NVDA$213.63·At close results coming after the market closes. Oil dropped for a third consecutive session.Derivatives positioningBearish volume signal: The taker long-short volume ratio flipped bearish ahead of key data releases. Shorts now account for 51.64% of the 24-hour flow. Takers are market participants who pull liquidity from the order book by trading at available prices. Constructive signal from BTC futures: Bitcoin’s spot price pulled back to $78,500 while futures open interest (OI) continued to decline, falling below 700,000 BTC. The combination of lower spot prices and shrinking OI is a constructive signal. It suggests traders are unwinding positions rather than aggressively opening new shorts against the dip. Ether and XRP markets did much the same.Slight uptick in SOL OI: Open interest in SOL futures is up for the third straight day, though, at 65.53 million tokens, the tally is only at a one-week high. Record activity in SUI: Futures tied to SUI are more popular than ever, with OI hovering at a record high of 838 million tokens. That’s not necessarily good news because the token’s spot price has dropped over 5% in 24 hours. The combination points to a build up of short positions, or bearish plays. SUI’s negative 24-hour OI-adjusted cumulative volume delta (CVD) also points to bearish leadership in the market. Bearishness in the broader market: CVD, in fact, is negative for most of the largest tokens, a sign that are growing number of shorts being executed at available market prices rather than passive limit orders. Volatility indexes retreat: Bitcoin’s 30-day implied volatility index, BVIV, continues to reverse the recent spike, signaling a market calm. Traders probably expect BTC to trade around $80,000 in a typical consolidation following a big move higher. Ether’s index, EVIV, shows a similar trend. Bullish options volume: On Deribit, traders are increasingly chasing bitcoin call options at strike prices ranging from $82,000 to $100,000. Call options provide a bullish exposure to the underlying asset without having to actually own it. The same dynamic holds true for ether. Token talkPyth Network PYTH$0.05314 is a standout performer over the last 24-hour period, rising 11% ahead of a Pyth Core infrastructure upgrade. The upgrade promises higher-frequency price updates, additional feeds and lower latency.LayerZero ZRO$1.1803 also saw double-digit gains after unveiling ATLAS, a trading and settlement engine whose fee model uses 75% of remaining revenue to buy and burn ZRO.Blue-chip cryptocurrencies such as bitcoin BTC$78,535.13, ether ETH$2,451.49 and solana (SOL) saw modest declines as traders took profits after a major weekly gain.Privacy-centric Zcash (ZEC) dropped 7.3% in 24 hours in a sell-the-news reversal after Grayscale’s spot ZEC ETF started trading. ZEC had gained roughly 56% over the preceding week.INJ, ENA and VIRTUAL declined 6.8%, 6.5% and 5.2%, respectively.Related AssetsRelated StocksMarket Closed12345678910Anvil: The Missing Collateral LayerAnvil: The Missing Collateral LayerAnvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.Jul 29, 2026Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.Why it matters:Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.View Full Report