Bitcoin treads water near pivotal monthly close while speculative tokens retreat
CoinDesk
Bitcoin holds steady near $76,800 as the market watches for a pivotal monthly close, while broader speculative tokens and altcoins experience downward pressure.Summary
Bitcoin remains stable near $76,800, a critical level identified by Bitmine Chairman Tom Lee, who suggests a monthly close above $76,000 would confirm a sustained bull market. Despite recent large-scale institutional purchases, the broader crypto market, including most tokens in the CoinDesk 20 Index, has seen significant retracement. Derivatives data shows active market repositioning with rising open interest in assets like Cardano and XRP, though negative cumulative volume delta across major tokens indicates a prevailing risk-off sentiment. Meanwhile, lower implied volatility suggests that despite the current price decline, traders are not currently pricing in market panic.
(Source：CoinDesk)