The cryptocurrency market experienced a slight uptick on Friday. With a 1.25% increase since midnight UTC, Bitcoin traded at $77,250, while the CoinDesk 20 Index saw a 0.7% gain, with 14 of its components trading in the positive.
This increase follows Bitcoin finding support at the $75,000 level, a price point it had previously struggled to surpass, on Wednesday. The cryptocurrency has been range-bound between $75,000 and $80,000 since April 19.
Futures exchange data reveals that traders are predominantly short-biased, as indicated by negative funding rates. Meanwhile, U.S.
equity index futures saw minimal movement, with Nasdaq 100 futures cooling down after the recent Big Tech earnings releases, and S&P 500 futures marginally increasing by 5 points. Precious metals, including gold and silver, declined by 1% and 0.7%, respectively. The altcoin market presented a mixed picture, with AXS and HYPE experiencing around 3% gains, while DeFi tokens MORPHO and AAVE were in the red.
Further insights into derivatives positioning and token performance are also noteworthy.