Bitcoin has fallen below $63,000 for the first time since February, extending a deepening price selloff that is rattling crypto markets. The decline has prompted traders to seek protection through options contracts, driving up the crypto fear gauge as sentiment turns increasingly bearish. The move signals a significant shift from recent highs, with buyers struggling to defend key support levels. Demand for put options — contracts that profit when prices fall — has surged, reflecting growing concern among market participants about further downside. The selloff raises questions about whether Bitcoin can recover its footing or if broader macro pressures and fading risk appetite will push prices lower still in the near term.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.