Risk-off mood deepens in crypto as futures interest declines: Crypto Markets Today
Crypto markets show increasing bearish sentiment due to rising volatility, declining futures interest, and geopolitical factors.Summary
Crypto markets experienced increased volatility on Tuesday, with Bitcoin briefly spiking before falling back to $66,500, as geopolitical tensions and rising oil prices fueled a risk-off sentiment. Bitcoin’s failure to surpass $75,000, coupled with a drop in futures open interest (over 18% this year across major tokens) and a surge in demand for downside protection – particularly $60,000 Bitcoin puts – signal growing caution among investors. While U.S. equities showed some gains, the crypto market demonstrated weakness, with altcoins generally underperforming Bitcoin. Despite some bullish signals for tokens like ZEC, the overall trend points towards increased price turbulence and potential further declines, contingent on Bitcoin’s ability to break key resistance or support levels.
(Source：CoinDesk)