The cryptocurrency market’s fall is largely driven by institutional activity and the upcoming derivatives expiries. The due $9.4 billion in Bitcoin options and $1.3 billion in Ethereum options are creating volatility as traders adjust positions, leading to widespread liquidations. Notably, Bitcoin ETFs saw a daily net outflow of $438 million. While BlackRock’s IBIT recorded a $267 million inflow, Bitwise BTC lost $280 million, revealing contrasting market views.
The industry experienced $489 million worth of liquidations, affecting 186,000+ traders in a mere 24 hours. As a result, the crypto industry’s market cap fell by $16 billion, and now hovers around $3.27 trillion.
Bitcoin’s 3.72% drop weighed heavily on the broader market, pulling down major altcoins like Solana (-6.19%) and XRP (-1.48%). Ethereum, however, showed resilience, gaining 1.09% as investors diversified. Uncertainty hit smaller tokens harder, with The Sandbox plunging 16.80%, marking it as the day’s top loser.
Explore our in-depth Bitcoin Price Prediction to analyze whether BTC can break the psychological $100k barrier anytime soon.
Despite the downturn, some tokens surged, showcasing trading interest in decentralized finance (DeFi). Lido DAO (+7.67%), Uniswap (+6.07%), and Arbitrum (+5.34%) led the gainers, signaling pockets of optimism.
The market decline is attributed to upcoming Bitcoin and Ethereum option expiries, widespread liquidations, and institutional sentiment reflected in ETF outflows.
Over $489 million in liquidations were recorded, impacting more than 186,000 traders.
Yes, Lido DAO (+7.67%), Uniswap (+6.07%), and Arbitrum (+5.34%) were top gainers despite the market downturn.
The Fear & Greed Index is at 84, indicating Extreme Greed, even amidst the market’s volatility.
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