Bitcoin Fell Below 67,000 Dollars, Ethereum Also Dropped

The Downtrend in the Crypto Market Continues

Bitcoin and Ethereum continue their downward trend, dragging down crypto-related stocks as well. During this process, gold and silver have gained value, while a negative sentiment continues to dominate the cryptocurrency market.

Financial Data is Noteworthy

Derivative data indicates a prolonged deleveraging process in Bitcoin futures transactions. Negative funding rates, a decrease in institutional demand, and high skews in options trading indicate a defensive position despite some buying opportunities.

New Institutional Products Launched

Onchain credit provider Spark has introduced new institutional products that connect offchain, custodied assets with DeFi (decentralized finance) markets. These products help manage over $9 billion in stablecoin liquidity, and the SPK token is performing better than the overall crypto market.