The cryptocurrency market is at a critical juncture, with Bitcoin testing the $75,000 support, diverging from the trends of the US stock market
The cryptocurrency market was at a critical juncture on Wednesday. After failing to break through $78,000 on Tuesday, Bitcoin's price has fallen below the $76,000 "bear market boundary" defined by Tom Lee, now approaching the support level of $75,000. Ethereum also retreated after reaching $2,150 on Tuesday, falling towards the $2,000 support, and then rebounding around $2,050. AI concept tokens RENDER, FET, and NEAR have given back most of their gains from Tuesday.
Market performance diverges significantly from U.S. stocks. The S&P 500 and Nasdaq 100 index futures both hit all-time highs, rising about 0.3%. In the derivatives market, cryptocurrency futures trading volume surged 54% to $201 billion within 24 hours, with liquidation volume skyrocketing by 87%, but this mainly reflects the market's restart after the U.S. holiday. Bitcoin open interest climbed to 740,000, with a negative cumulative trading volume difference over 24 hours, indicating that traders are actively shorting through market orders. Ethereum's open interest reached a historic high of 15.57 million, but the trading volume difference is also negative, suggesting that traders are shorting contracts to bet on deeper declines after the critical technical support trendline was breached. The 30-day implied volatility index for Bitcoin rebounded from a year-to-date low, rising nearly 3% to 37.35%, indicating that the market is beginning to seek protection against potential price declines.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

European Commission Approves €6.1 Billion for Ukraine's Drones and Patriot Missiles

EU Resumes Work on Transferring Frozen Russian Assets to Ukraine

Crisis: Ukraine's Revenues Do Not Cover Defense Expenditures

MKB Identifies Problematic Loans Worth $8 Billion

JPMorgan: US Treasury Buyback Data Indicates Decline in Bid Quality

DeepSeek V4.1 Flash Scores 81.2, 1.4% Cost of GPT-6 Astra

Nasdaq Invests $100 Million in Payward, Parent Company of Kraken

TRON Expands MetaMask Support to B.AI, SUN.io, JustLend DAO and BitTorrent

Loans up to 1 billion UAH, state property rental, and business security

UK Invests Nearly $40 Million in SpaceX Satellite Services

DeepSeek Expected IPO Valuation Reaches Trillions, Liang Wenfeng May Become New Richest Person

Ukrainian Government Submits Three Draft Laws to Parliament for International Aid

bStocks Contributes 88% of Tokenized Stock Market Trading Volume

The Amount of Virtual Asset Gifts to Minors in South Korea Increases to Approximately 4.034 Billion Won

Cognition Completes $2 Billion Series E Funding, Valuation Reaches $48 Billion

Circle Acquires Tazapay for $400 Million, Annual Payment Volume Exceeds $25 Billion

Tether and Fasanara Capital Launch $400 Million Private Credit Fund StableFund

SK Hynix Responds to Unresolved Sale of Chongqing Factory Shares

The 'Own Business 2.0' Program Offers Grants Up to 2.5 Million UAH

Ukraine's Trade Turnover Reached $92.9 Billion in Eight Months of 2026

Study: Improvements in Pre-training Efficiency from 2019 to 2025 Mainly Come from Data

Ukraine to Receive 95,000 Drones and Ammunition After 'Ramstein' Meeting

Ukrainian Antimonopoly Committee Fines Companies 133 Million UAH for Anticompetitive Agreements

DeepSeek's Pre-Funding Valuation Reaches Approximately $71 Billion, ARR Hits $500 Million

Robinhood Under Investigation by ANJ for Its Activities in France

YZi Labs Participates in 10 Funding Rounds Totaling $42.1 Million

StablecoinX Appoints Christopher Jensen as CEO

Circle Acquires Singapore's Tazapay Cross-Border Payment Platform

UK Issues Bonds at Highest Borrowing Costs Since 1998









