Latest news with #Thielen
Yahoo
3 days ago
- Business
- Yahoo
Here Is the Bitcoin Price Level That Could Be an Attractive Entry Point for BTC Bulls
As bitcoin (BTC) holds near its record highs, traders looking to join the uptrend may be facing a dilemma: should they enter now, or wait for a more favorable pullback? According to Markus Thielen, founder of 10x Research, a pullback to the former resistance-turned-support level of the May high, under $112,000, would be the best entry point. "We would prefer to see bitcoin retest its $111,673 breakout level to provide a more favorable risk/reward entry point," Thielen said in a note to clients on Monday. The risk-reward ratio compares the potential loss of an investment to its potential profit, helping traders determine whether the potential gains justify the associated risks. Traders typically target a risk-reward ratio of at least 1:2, necessitating bullish entries close to key support levels, like the $111,673 in BTC's case. It's common for markets to revisit the breakout points before staging bigger bull runs, meaning a potential pullback to $111,673 cannot be ruled out. As of writing, BTC traded flat at around $119,500, having risen over 1% on Sunday amid reports that the U.S. had reached the largest-ever trade deal with the European Union. But what if the meaningful pullback doesn't unfold? In that case, the best entry would be above $120,000, marking a breakout above the trendline connecting July 14 and July 23 highs. "A break above the descending trendline, particularly a sustained move above $120,000, could justify re-engaging with the trend, though it would warrant unusually tight stop-losses," Thielen said. Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
'Wall Streetization' of Bitcoin: BTC Volatility Index and the S&P 500 VIX Boast Record 90-Day Correlation
New statistical evidence has emerged, suggesting that bitcoin's (BTC) market dynamics are now intricately linked to the ebb and flow on Wall Street. Recently, the 90-day correlation coefficient between bitcoin's 30-day implied volatility indices – Volmex's BVIV and Deribit's DVOL – and the S&P 500 VIX hit a record high of 0.88, according to data source TradingView. A positive correlation of 0.88 indicates that the two variables are closely tied. As of Wednesday, the correlation stood at 0.75. The VIX represents the 30-day implied or expected price turbulence in Wall Street's equity index, the S&P 500. The strengthening correlation suggests that BTC's implied volatility indices are evolving into fear gauges, similar to the VIX, which typically falls during bull runs and rises during sell-offs. The BVIV has crashed from roughly 67% to 42% this year, moving in the opposite direction of BTC's price, which has risen by 26%. Historically, BTC and its implied volatility tended to move in tandem. Meanwhile, the VIX has dropped 11% this year, while the S&P 500 index has gained over 8%. According to Markus Thielen, founder of 10x Research, growing institutional participation in the crypto market, characterized by volatility sellers, is behind the collapse in BTC implied volatility and the resulting record correlation with the VIX. Volatility selling involves writing out-of-the-money (OTM) calls to generate an additional income on top of the spot market holdings. Some traders also write OTM puts. "This bitcoin cycle continues to be dominated by Wall Street participants, who are actively compressing volatility," Thielen told CoinDesk. "Rather than speculating directionally, many institutional players are selling call options to generate additional yield—mirroring traditional equity income strategies. As a result, directional flows tend to follow broader risk-on/risk-off dynamics familiar to legacy markets," Thielen added. Thielen added that the institutional framework has contributed to BTC's growing correlation with the U.S. equities, "particularly as hedge funds and asset managers increasingly apply the same macro playbook across both asset classes." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
21-07-2025
- Sport
- USA Today
Former Vikings WR honored on 'Actual Underrated' team ahead of training camp
Ahead of training camp, numerous analysts are compiling lists examining the NFL and its history from various angles. One recent list of players to make a team caught our eye, and we wanted to share some of the details. John Sigler of Saints Wire wanted to build the ultimate NFL All-Underrated Team ahead of the new season. He wanted to create a list of players who are often overlooked, and he did so with some great selections and throwback picks. He explains his selection process, stating, ". . .For this project we limited them to two benchmarks. For one thing, players must have logged at least 128 games in the NFL; that's equivalent to eight 16-game seasons (which was the norm until 2021), or one standard four-year rookie contract and another four-year extension. For the next point, qualifiers must have been selected for no more than two Pro Bowls in their careers. And for one more, we're trying to emphasize guys who weren't drafted early in the first round, but that's kind of a case-by-case basis." One Vikings player made the cut for Sigler, and it was a hometown player who went from undrafted camp invite to All-Pro, Adam Thielen. Both Thielen and former Saints wide receiver Marques Colston made the first-team selection at wide receiver on this unique team. Sigler writes, "Thielen is an NFL success story, too, having played college ball at Minnesota State and tried out for the Vikings as, essentially, a walk-on rookie free agent. He's 11 years into his career and still playing well." In nine seasons with the Vikings, Thielen racked up 6,682 receiving yards on 534 catches while scoring 55 times. He did all this while not really finding his footing till his third year with the team either. Once again, it speaks to the work ethic of Thielen and his deserving placement on this list.
USA Today
19-07-2025
- Sport
- USA Today
Panthers training camp preview: How many roster spots will be available at WR?
With the Carolina Panthers set to report to training camp this week, it's time to take a look at the lay of the land. Which players are sure to make it through the summer and onto the team's initial 53-man roster? Are there any wild-card candidates who can leave a lasting impression in the coming weeks? And which battles are worth keeping an eye on? Here is our training camp preview for the Panthers' wide receiver position: Roster locks The Panthers, for the first time in franchise history, have now spent back-to-back first-round picks on wideouts. McMillan could be the true No. 1 target for quarterback Bryce Young while Legette will try to find his way after an underwhelming rookie campaign. Thielen, who turns 35 years old in late August, is back for the third and final season of his contract. He led Carolina in receiving over the first two, with 1,014 yards in 2023 and 615 yards in 2024. Coker may very well be Thielen's successor at the slot position. Like the savvy veteran, the 23-year-old youngster is a sound route technician with sure hands. Likely to make it Moore's connection with head coach Dave Canales, whom he also played under in Seattle and Tampa Bay, is strong. He proved to be a useful weapon for Young towards the end of 2024 as well, recording 35 targets over the team's final seven outings. Horn seems to have a high-profile connection too, but with president of football operations and general manager Dan Morgan. Plus, there may not be another receiver on this roster who has the speed that Horn does—as evidenced by his eye-opening display in the spring. On the bubble Renfrow missed the entire 2024 season due to a rough bout with ulcerative colitis. The Myrtle Beach, S.C. native, University of Clemson product and former Pro Bowler has an outside chance to complete a feel-good NFL comeback. Battle to watch If Renfrow does finish his story, he might have to do so at the expense of Moore. But Moore's past with Canales and his experience on special teams will give him the upper hand. Potential sleeper Speaking of Canales and special teams, the second-year play-caller certainly values the ability to play in the third phase of the game. And that will benefit Chisena—who could step up as a leader for the unit following the offseason departures of safety Sam Franklin Jr. and tight end Feleipe Franks. Follow @ThePanthersWire on Twitter/X for more Panthers content.
Yahoo
16-07-2025
- Business
- Yahoo
Ether Races 6% Against Bitcoin as GENIUS Act Puts Spotlight on Yield-Bearing Stablecoins: Analyst
Ethereum's native token ether (ETH), is gaining ground against bitcoin (BTC), as the impending GENIUS Act is likely to ban yield-bearing stablecoins that promise interest-like returns, according to Markus Thielen, founder of 10x Research. The Binance-listed ether-bitcoin ratio, representing ether's BTC-denominated price, rose over 5.96% to 0.02670 on Tuesday, registering its best performance since May 13, according to data source TradingView. The upswing marked a bullish resolution to the multi-week range play and suggests continued ether outperformance ahead. Ether's dollar-denominated price rose over 4%, topping $3,100 for the first time since February. According to Markus Thielen, founder of 10x Research, the key driver for ether's price surge is seemingly the growing anticipation that the GENIUS Act, or the U.S. stablecoin bill, will pass, restricting U.S. stablecoin issuers from paying interest. "That would potentially reinforce Ethereum's importance within the digital asset ecosystem," Thielen said in a client note shared with CoinDesk. Thielen added that the GENIUS Act has put the spotlight on Ethena's $5 billion synthetic dollar USDe, which achieves delta-hedging or cash and carry arbitrage by shorting perpetual futures equivalent to the amount of ETH received from users as collateral. That's how it generates yield on USDe. The long-prevailing theory is that the shorting operation adds to bearish pressures in the futures market and caps basis, the gap between futures and spot prices. "Ethena currently represents about 4% of Ethereum's $26 billion open interest, and by consistently selling futures, it has exerted downward pressure on ETH prices," Thielen said. Ethena has already reached out to the U.S. Securities and Exchange Commission (SEC) to seek clarity on synthetic dollars, such as the USDe. The team reportedly argued that the synthetic dollar functions as a payment instrument rather than a security and falls outside the scope of the GENIUS Act and the STABLE Act, which regulate payment stablecoin issuers. Ethena is headquartered in Lisbon, Portugal, with new dollar inflows primarily coming from outside the U.S. So, it remains to be seen how it fits the evolving regulatory picture in the U.S. "If Ethena were to comply with the U.S. stablecoin bill, it could be forced to stop buying Ethereum altogether. However, the market may be interpreting this dynamic differently—ENA-USDT continues to rally, supported by rising Ethereum funding rates," Thielen said, adding that the USDe is not offered in the U.S. and so Ethena is not at risk. Ethena has earned a total revenue of nearly $300 million over the past 12 months, trailing behind Tether, Ethereum, Circle and Solana, according to data source TokenTerminal. The protcol has also earned a fee revenue of $15 million in one month. "Ethena is performing exceptionally well with the rise in funding rates, which is encouraging numerous hedge funds to set up funding arbitrage strategies. We anticipate this will translate into increased inflows for Ethereum ETFs," Thielen told CoinDesk. The GENIUS Act, which got the Senate approval in June with bipartisan support, is expected to head for a floor vote in the House by Thursday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
