Crypto Market Holds Ground as Bears Keep Tighter Grip

Bitcoin stayed just above $62, 500 while ether hovered near $1, 665, but the market felt a heavy hand from sellers. The numbers show that traders are leaning more into short positions, especially in popular tokens like SOL and ETH. Even though the amount of SOL futures trading reached a record high, both its funding rates and order flow point to new bearish bets. In the derivatives arena, trading volume fell by about a quarter, yet the total open interest grew slightly. Bitcoin futures remain steady at roughly 730 000 BTC, suggesting a pause rather than a rally. Ether futures saw a jump in open interest to 14. 3 million units, but the price drop from $1, 780 to $1, 650 signals that sellers are stepping in.The volatility index for Bitcoin eased from nearly 48 % to 43 %, and a similar trend appeared for ether. On Deribit, the skew between puts and calls widened sharply, indicating that many traders are buying downside protection. Some smaller coins like Jupiter and Monero managed modest gains, showing that not all hope is lost. However, tokens such as Ethena and Stellar fell sharply, reflecting the broader weakness in risk assets. The U. S. dollar kept strengthening, which often hurts cryptocurrencies because it makes cash more attractive. If Bitcoin slips below the $60, 000 support line, it could slide into a range not seen since late 2024, with $52, 000 becoming a key downside level. The market’s lack of a clear bounce after a brief U. S. equity recovery remains the biggest concern for investors.