$BTC $BNB $SOL

What to know:

Bitcoin's continued choppy trading near January's highs of around $110,000 has some observers drawing parallels with 2021, when the bull market ended with twin peaks closer to $70,000. Not everyone agrees.

"The market dynamics between 2021 and today are completely different," Jeff Anderson, head of Asia at STS Digital, told CoinDesk. "BTC is evolving into a treasury asset, so it is very difficult to extrapolate chart patterns onto an asset undergoing massive structural changes."

The price action over the weekend was "encouraging," Anderson said, noting bitcoin's stability at around $105,000 even as Iran and Israel traded blows. As the old saying goes: If a market does not fall too much on bad news, it indicates big players are probably going long.

According to Singapore-based QCP Capital, BTC's resilient price is underpinned by continued institutional adoption.

"The market seems to have rediscovered its footing, particularly after BTC held above the key psychological threshold of $100k despite the initial shock," QCP said. "Crucially, Friday’s modest 3% pullback paled in comparison to April last year, when BTC fell more than 8% amid similar Iran-Israel turmoil."

The market composure is evident from Volmex's 30-day implied volatility index (BVIV), which has declined to an annualized 42.7%, reversing Friday's spike to 46.12%.

Meanwhile, the spread between ether and bitcoin implied volatilities continues to widen, a sign that ether options are becoming costlier relative to bitcoin on Deribit.

The relative richness of ether options presents a good opportunity for ether holders to generate additional yield by writing or selling options, according to Anderson.

Hong Kong-listed company Meme Strategy's share price surged over 20% after the company announced the acquisition of 2,440 Solana (SOL) tokens for approximately HK$2.9 million ($370,000). Corporate adoption of cryptocurrencies is rapidly moving beyond bitcoin and into other coins, such as ether , sol , and XRP