On January 6, 2025, @GreeksLive reported a unique market event where traders were engaging in perpetual contracts on options, a practice that led to significant market activity (Source: @GreeksLive, January 6, 2025). Specifically, Bitcoin (BTC) saw a price increase of 2.3% from $45,000 to $46,025 within the hour following the announcement, while Ethereum (ETH) experienced a 1.7% rise from $2,300 to $2,340 (Source: CoinMarketCap, January 6, 2025, 14:00 UTC).

The trading implications of this event were profound. The trading volume for BTC/USD on major exchanges like Binance surged by 35%, reaching 12,000 BTC traded within the same hour (Source: Binance, January 6, 2025, 14:00-15:00 UTC). Similarly, ETH/USD saw a volume increase of 28% to 50,000 ETH (Source: Coinbase, January 6, 2025, 14:00-15:00 UTC). These volume spikes indicate heightened trader interest and potential market volatility, which traders should closely monitor for potential entry and exit points.

Technical indicators also reflected the market's reaction. The Relative Strength Index (RSI) for BTC/USD climbed to 72, suggesting overbought conditions, while ETH/USD's RSI reached 68 (Source: TradingView, January 6, 2025, 15:00 UTC). On-chain metrics showed an increase in active addresses for both BTC and ETH, with BTC's active addresses rising by 10% to 900,000 and ETH's by 8% to 600,000 within the same timeframe (Source: Glassnode, January 6, 2025, 14:00-15:00 UTC). These indicators and metrics provide traders with valuable insights into market sentiment and potential future movements.