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Our $SPX-PERP and $KAS-PERP markets are now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. $SPX$KAS
12:36 PM · Feb 20, 2025
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Low-cap altcoin SPX6900 gained over 15% on its daily chart within the past 24 hours as Bitcoin reclaimed the $98,000 region.
While enhanced broad market sentiments propelled $SPX’s prices in the past day, Coinbase’s listing magnified the bullish momentum.
The leading exchange confirmed adding $SPX-PERP, bolstering the tokens’ exposure.
$SPX rallies on Coinbase support
Coinbase announced listing SPX6900 “in full-trading mode” on Thursday.
Generally, assets witness amplified optimism after a leading crypto exchange launches them.
Coinbase’s derivative listing will likely attract retail and institutional players, increasing $SPX’s market depth and liquidity.
$SPX traded in green today, reflecting investor optimism following the announcement.
Derivative expansions trigger short-term price surges due to increased speculative buying.
Simultaneously, Coinbase announced the $KAS-PERP market, introducing another lucrative product for users.
Individuals interested in new opportunities can trade the Kaspa perpetual contract.
$SPX and $KAS price actions
The duo displayed upside trajectories on the price charts, with $SPX outshining $KAS.
SPX6900 gained over 15% in the past 24 hours to trade at $0.7585.
Kaspa saw a modest 1.02% surge within that timeframe to hover at $0.1074.
Chart by Coinmarketcap
Notably, these price movements align with Coinbase’s listing, with traders optimistic about future price actions.
Coinglass data confirms the increased trader enthusiasm.
$SPX’s open interest increased by 2% to $17.85.
Also, the over 100% uptick in volume signals robust investor activity.
Moreover, the Long/Short ratio above 1 suggests more traders executing longs as they anticipate extended gains.
Technical indicators support $SPX’s bullish case.
The RSI highlights robust growth room for the altcoin before hitting the overbought region.
The 1D Moving Average Convergence Divergence demonstrates buyer comeback with a visible bullish crossover.
Source – TradingView
The prevailing green histogram bars indicate buyer dominance.
Moreover, The Chaikin Money Flow has recovered from yesterday’s -0.33 to +0.40 at press time.
That signals increased money entering the SPX6900 ecosystem as individuals accumulate.
$SPX exhibits significant bullishness and looks ready for extended gains before potential retracements.
Bulls target the obstacle at $0.8500 – a 12% uptick from current prices.
Extended uptrends will potentially push towards early February regions of $0.9426 before soaring to the $1 psychological region.
However, enthusiasts should watch for potential risks. Assets often record short-lived gains upon exchange listing news.
These events encounter sell-the-news developments, leaving the token in the hands of broad market sentiments.
A bearish wave in $BTC and top altcoins will likely delay $SPX’s projected uptrend.
Bulls dominate the digital assets sector as Bitcoin tests $99,000, changing hands at $98,878.
While the community awaits a jump past $100,000, today’s $BTC and $ETH option expiry raises volatility worries.
Huge Volatility Alert 🚨🚨 16,225 #$BTC options are about to expire today. ➡️ Max Pain price: $98,000 ➡️ Notional value: $1.6 Billion 152,634 #$ETH options will also expire today. ➡️ Max Pain point: $2,700 ➡️ Notional price: $419 Million
8:59 AM · Feb 21, 2025
Read 58 replies
The market looks poised for fluctuations with the expiration of over $2 billion in Bitcoin and Ether options.
The current state demands trader caution as market structures might shift wildly due to the developing conditions.
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