TechFlow News: On February 4, according to CoinDesk, the crypto market showed signs of short-term stabilization following Tuesday’s sharp sell-off. Bitcoin and Ethereum rebounded from their recent lows, yet the derivatives market overall remains in a risk-reduction phase. In the derivatives market, traders continue reducing risk exposure, with the total notional open interest across all crypto futures contracts falling to $105.9 billion—the lowest level since April last year. Bitcoin’s 30-day implied volatility rose to an annualized 53%, the highest since December 1. Open interest in Bitcoin and Ethereum futures declined by 0.7% and 2%, respectively. On the macro front, the U.S. House of Representatives passed a government funding bill to end a partial government shutdown, boosting U.S. equity futures and global risk assets. Precious metals also rebounded, with gold returning above $5,000 and silver rising near $90—a single-day gain of nearly 6%.
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