Bitcoin Nears $113,000 as Metamask Confirms Upcoming MASK Token

Bitcoin Market Update

Bitcoin has rebounded to nearly $113,000, suggesting a potential end to its recent three-day decline.
Key resistance levels at $113,500 and $115,000 are critical for sustaining the current uptrend.
If these resistances are not overcome, there is a risk of further correction.

MetaMask Token Launch

ConsenSys and Ethereum co-founder Joe Lubin confirmed the upcoming MASK token launch aimed at decentralizing parts of MetaMask.
META’s tokenomics could mirror ConsenSys's Layer-2 project Linea, focusing on ecosystem incentives and user rewards.
Airdrops may prioritize active users, though expectations should be managed regarding potential token value distribution.
MASK is anticipated alongside other significant airdrops like Base and OpenSea.

Derivatives Market Insights

Aster token futures open interest increased by 46%, unlike the stable activity in top 20 token futures.
Bitcoin perpetual futures' open interest remains stable at 274,000 BTC, indicating cautious trader sentiment.
XRP and ETH markets show similar trends, with SOL experiencing an increase in open interest since Asian trading hours.
HYPE and XMR have high funding rates exceeding an annualized 25%.
CME ether futures' open interest nears record highs, while Bitcoin futures activity is subdued.
On Deribit, BTC options reflect a protective bias towards puts extending to June 2026, and ETH options towards December expiry.