Bitcoin, ether rebound after weekend low-liquidity rout: Crypto Markets Today
Bitcoin and ether stabilized after a low-liquidity weekend selloff erased $290 billion from the crypto market cap.Summary
Crypto markets stabilized after a weekend rout, exacerbated by low liquidity, wiped out nearly $290 billion in total market capitalization. Bitcoin dipped to $74,674 and Ether to $2,164 but both found support and rebounded by about 1% since midnight UTC. This broad retreat from risk assets also saw U.S. equity futures and precious metals like gold and silver decline significantly. The market-wide futures open interest (OI) dropped to its lowest level since April, indicating reduced appetite for leveraged bets, with over $800 million in long positions force-closed. Altcoins were severely impacted, with DASH, OP, SUI, and XTZ seeing steep weekly drops, though HyperLiquid's HYPE surged over 40% as an outlier. Traders are now positioning for consolidation, evidenced by increased open interest in put options for Bitcoin and demand for ether put butterfly strategies.
(Source：CoinDesk)