Crypto market pulse
Bitcoin is holding near $70K support even as derivatives pressure mounts — BTC put/call ratio hit 0.77, the highest since June 2021 ( ). Spot silver jumped about +2% to $74.28/oz, while tokenized gold/RWA activity and DEX pump.fun volume — including reports of 30% buybacks — are reshaping risk flows into equities and crypto (x.com).
VanEck data show put premiums have widened versus spot — traders paid about 4 basis points in put premiums relative to spot volume, a signal options desks flagged as unusually costly hedging. (phemex.com) On-chain activity has softened: reported transfer volume across major BTC venues slid roughly 31% while daily on-chain fees fell about 27% versus recent averages, narrowing miner and network revenue. (phemex.com) Macro and product flows weighed on price action this week — U.S. spot Bitcoin ETFs registered roughly $90 million in outflows and exchanges recorded more than $400 million in leverage liquidations during the recent dip. (cryptonewsz.com) Precious metals briefly re-entered traders’ crosshairs: intraday data showed silver extending gains near the mid‑$70s per ounce, a move tracked on exchange feeds that attributed the jump to short-covering and ETF rebalances. (coinlive.com) Tokenized precious‑metals issuance and RWA product rollouts have gathered scale, with independent market estimates placing the tokenized precious‑metal market in the low‑single‑digit billions of dollars. (investax.io) On the DEX side, pump.fun’s treasury buyback program continues to drive order‑flow concentration — the protocol disclosed a recent $8.52 million open‑market repurchase and third‑party trackers show cumulative buybacks in the low‑hundreds of millions from the program. (ainvest.com)
