Analysis: Bitcoin's market capitalization exceeds 64%, and the options market shows a bullish trend at the end of May

Planet Daily News: As of May 28, Bitcoin (BTC) market capitalization has exceeded 64% of the cryptocurrency market, demonstrating its dominant position. Despite recent positive market news, including Trump Media Company announcing a $2.5 billion equity and debt financing to establish a Bitcoin reserve strategy, Bitcoin price has been fluctuating between $106,600 and $111,700 since May 22, showing a narrow range of oscillation. In the derivatives market, according to Kaiko data, Bitcoin options expiring at the end of May show the highest bullish interest at the $110,000 strike price, while options expiring in June and July are more inclined towards $115,000 and $120,000 strike prices, indicating market expectations of further Bitcoin price increases. Additionally, the annualized funding rates for BTC and ETH perpetual contracts on offshore exchanges remain stable below 10%, showing moderate bullish sentiment. In contrast, Ethereum (ETH) and Solana (SOL) prices are relatively weak, constrained by their 200-day moving averages. The current ETH price is $2,633, below its 200-day moving average of $2,697; SOL price is $173, also below its 200-day moving average of $181, indicating insufficient market bullish confidence in these assets. (CoinDesk)