- Bitcoin rebounded to nearly $113,000, raising hopes for an end to its recent three-day decline.
- Further gains for major cryptocurrencies depend on Bitcoin clearing resistance near $113,500 and $115,000.
- ConsenSys and Joe Lubin confirmed the upcoming MASK token, designed to support decentralization on MetaMask.
- Speculation grows that the MASK airdrop will reward active MetaMask users, but some expect modest individual payouts.
- Derivatives market data shows rising interest in select tokens while Bitcoin and Ether futures activity remains mixed.
Bitcoin climbed to almost $113,000 after a three-day slide, signaling a possible change in short-term momentum for the largest cryptocurrency. Other major tokens showed similar movements, following Bitcoin’s lead as the overall crypto market looked to recover.
Analysts pointed to two key price levels. “Much will depend on the ability of bitcoin bulls to overcome important resistance levels at 113,500 and 115,000. If they succeed, there will be a chance to restore the uptrend. Failure will increase the risks of a Bitcoin correction,” said Alex Kuptsikevich, senior analyst at FxPro.
In related developments, ConsenSys and Ethereum co-founder Joe Lubin announced that the rumored MASK token will soon launch. The MASK token aims to help decentralize parts of the MetaMask platform, moving the service away from central control and toward community governance. While exact details are not public, the MASK token’s distribution could resemble the approach used for the Linea project, with an emphasis on ecosystem incentives and rewards for developers and users.
Some analysts expect that users with an active history on MetaMask, such as those performing swaps or using decentralized apps (dApps), could see higher eligibility for the MASK airdrop. Still, doubts remain over the scale of individual rewards, with some X users warning that, based on a $3 billion fully diluted value and broad wallet participation, payouts could average only around $8.5 per user. Details can be found in this X post.
In the derivatives market, futures open interest (the number of active contracts) for the Aster token rose 46%, while activity for leading coins remained stable. Open interest in Bitcoin perpetual futures stayed around 274,000 BTC, showing that traders have not yet strongly participated in this week’s price rebound, possibly out of concern for a repeat of the recent U.S. session drop.
Other major altcoins such as XRP, ETH, and SOL displayed similar market dynamics. Funding rates on HYPE and XMR rose above 25% annualized. On the CME exchange, open interest in ether futures neared record highs, while Bitcoin futures remained subdued. Deribit data showed a continued preference among options traders for protective puts, especially for contracts expiring in December 2026 for BTC and in December for ETH.
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