Bitcoin climbs as risk sentiment improves, altcoins hit by exploit concerns
CoinDesk
Bitcoin rose as market risk appetite improved, while altcoins struggled following a significant DeFi exploit involving KelpDAO.Summary
Bitcoin climbed to $76,500 amid a shift toward risk-on sentiment, driven by global market movements and potential geopolitical de-escalation. While Bitcoin shows resilience, the broader altcoin market remains fragile due to investor caution following a $290 million exploit on KelpDAO. Derivatives data indicates market indecision, with negative funding rates suggesting a potential short-squeeze environment, while investors currently favor Bitcoin over volatile decentralized finance tokens.
(Source：CoinDesk)