Crypto steadies after selloff as bitcoin, ether rebound from multiyear lows: Crypto Markets Today

Bitcoin and ether are posting modest gains after a significant market-wide decline on Tuesday pushed them to multiyear lows; BTC bounced from $72,870 (lowest since November 2024) and ETH recovered from $2,255 (lowest since May last year). This recovery followed the U.S. House passing a funding package, which lifted global markets. Derivatives markets show continued risk reduction, with futures open interest dropping to $105.9 billion and $679 million in bullish bets liquidated over 24 hours. Bitcoin's implied volatility rose to its highest level since December, indicating heightened fear, and options markets show persistent demand for downside protection via puts. While privacy coins like Monero and Zcash bounced, Solana-based tokens weakened, and Bitcoin dominance rose back above 59%, a pattern typical of low-liquidity bear market phases.

(Source：CoinDesk)