Bitcoin Drops to $91,200 as Tension Rises in the Markets

Bitcoin is Declining

Bitcoin has dropped to $91,200, adversely affecting market sentiment. This decline was influenced by BlackRock’s outflows of $113 million from the IBIT fund.

Market Situation

Stock indices showed little change. Open interest in futures has fallen to $21 billion. While fundamental data and financing conditions remain calm, options positioning is following an optimistic trend; the trend in call options is rising.

Other Cryptocurrencies

Ethereum has lost its gains after Fusaka, while weakness has been observed in CD20 and meme coins. However, Zcash (ZEC) and TRON (TRX) have shown strong performance, challenging the overall downward trend.