Bitcoin slipped to approximately $62,300 (around $62,194.91), registering a 2.5 % decline since midnight UTC, while Ether dropped more than 4 % to $1,650.
Crypto Market Decline
Technology equities added pressure to the digital‑currency arena, as Nasdaq 100 futures fell 2.5 % after the opening bell. Analysts attribute the pullback to profit‑taking and concerns over rising bond yields, according to market‑strategy partner Patrick Munnelly of TickMill. Investors therefore faced a double‑dip, with crypto prices echoing the broader market weakness.
Altcoins underperformed both Bitcoin and Ether, with tokens such as ethena (ENA) and hype (HYPE) sliding 5‑6 % amid $717 million of liquidations across the sector. The aggressive unwind amplified price swings, leaving many investors wary of further downside risk on the blockchain.
The U.S. Dollar Index climbed to 101.15, its highest reading since May 2025, reinforcing the bearish sentiment for crypto assets that are traditionally inversely correlated with the greenback.
Derivatives and Futures Activity
Open interest on SpaceX perpetual contracts rose 10