Bitcoin stalls below at $77,500 as volatility cools, traders unwind leverage
CoinDesk
Bitcoin price activity remains muted near $77,500 as futures open interest declines and traders reduce leveraged positions amid cooling market momentum.Summary
Bitcoin's price is currently consolidating near $77,500 following a failed breakout attempt toward $80,000 earlier this week. Market data indicates a cooling of momentum, evidenced by a 6% drop in Bitcoin futures open interest and a shift toward negative funding rates, signaling that traders are actively unwinding leveraged positions. Despite the stagnant price action, analysts view the current trend as a brief pause within a broader bull market. Meanwhile, Zcash has emerged as an outlier with increased trading volume and bullish sentiment following its recent listing on Robinhood, while broader altcoin and DeFi performance remains mixed.
(Source：CoinDesk)