Crypto market drops as Nasdaq tech selloff spills into digital assets
Bitcoin lost 2.5% to $62,300 and ether fell more than 4% while $717 million in liquidations amplified losses across altcoins.
Make preferred on
Share this article
Summary
- Derivatives signal growing bearish conviction with indications that sellers are in control at most of the top 25 coins.
- Options market structure heading into Friday’s quarterly expiry is skewed long calls, but those bullish bets are underwater as spot prices have collapsed through the quarter.
- Privacy coins DASH and XMR bucked the selloff, losing less than 1%, while the average crypto RSI sits at 39.05, in oversold territory, leaving room for a potential relief rally.
