BTC price falls with ETH, SOLwhile decred, AI-linked tokens advance: Crypto Markets Today
Bitcoin and major cryptos fell while Decred and AI-linked tokens like ICP advanced amid cautious institutional positioning.Summary
The broader cryptocurrency market, led by Bitcoin (BTC) trading near $67,000, experienced renewed selling pressure, with Ether (ETH) and Solana (SOL) also registering losses. Market participants remain cautious, evidenced by continued buying of put options for downside protection, particularly by ETF holders and corporate treasuries. Derivatives positioning shows a dominance of bearish bets, with cumulative futures open interest falling and perpetual funding rates turning negative for major tokens.
In contrast, Decred (DCR) surged 16% to its highest level since November, driven by recent changes to its treasury rules. Furthermore, AI-linked tokens benefited from positive sentiment following Nvidia's strong earnings report. Internet Computer (ICP), marketed as a decentralized cloud AI alternative, rose about 6% after its foundation proposed a deflationary mechanism tied to network usage. Analysts advise long-term investors to use staggered accumulation near support zones rather than making large lump-sum investments.
(Source：CoinDesk)