Bitcoin price rallied ferociously past the psychologically important $10,000 level before topping out just above the $11,000 level, while the futures curve remains in deep contango but the delta has narrowed from the widest levels observed over the weekend. At the same time, Ethereum rallied all the way to the $320 area, with the Sep-perpetual spread expanding to $17. As a reminder, this week will see June CME Bitcoin futures expire, so pay close attention to the futures roll and the shape of the curve. The funding costs are also on the rise, moving to their highest level since May.