Bitcoin is declining, investors are seeking downside protection.

Bitcoin Experiences a Decline

Bitcoin has stabilized below the 70,000 dollar level, extending its recent losses. Investor reactions are notable following last week's sharp drop.

Risk Aversion Trend in the Derivative Market

Derivative data indicates a significant risk aversion shift in the markets. The decline in open positions, negative funding rates, high short positions, and increasing momentum volatility signal a strong demand for short-term downside protection.

Significant Drop in RNBW Token

The new RNBW token of the crypto wallet Rainbow has experienced a 75% drop from its initial price, disappointing investors. This decline occurred due to distribution delays and infrastructure issues.