Market Overview - The crypto market is experiencing fluctuations with Bitcoin (BTC) trading at $107,800 and Ether (ETH) at $3,830, indicating indecision among traders [1] - A breakdown in Bitcoin price below $102,000 could lead to a bearish trend, potentially dropping to at least $98,400, which would negatively impact the altcoin market due to low liquidity [1] Bitcoin and Ether Derivatives - Bitcoin's order book heat map shows a cluster of sell orders around $111,000 on Binance [3] - Ether futures open interest (OI) reached a record 2.43 million ETH, while Bitcoin's OI remains lower at approximately 142,000, indicating a preference for ETH among institutional investors [3] - Annualized perpetual funding rates for major cryptocurrencies, including BTC and ETH, are close to zero, suggesting a balanced derivatives market [3] Zcash Performance - Zcash (ZEC) futures open interest surged 22% to $303 million, leading growth in select major coins [3] - ZEC has increased by 9.2% in the past 24 hours and is up 461% over the past month, driven by positive sentiment around shielded tokens, which constitute 27.5% of total supply [3] - The rise in ZEC is attributed to a reduction in sellable supply due to a significant amount being held in non-custodial wallets, coupled with increasing demand [3] Altcoin Market Trends - ZEC's gains contrast with the overall weak performance of other tokens, which have dropped to multi-month lows [4] - ASTER has fallen below $1.00, marking a 33% decline over the past week, while recently issued plasma (XPL) tokens have seen a 25% drawdown in the same period [4]