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

Wildberries Founder Tatyana Kim Loses $3.1 Billion Due to Attacks on Logistics

Russia Strikes 'Zaporizhstal' Again with Five Missiles

Jensen Huang Says 2026 U.S. Stock Trading Strategy Depends on Dinner Partners

Canadian Public's Resistance to American Goods Grows, 52% Won't Buy American Cars

VTB Shares Fall to Historic Low on Moscow Exchange

EU Resumes Plan to Transfer €200 Billion of Russian Assets to Ukraine

NVIDIA Plans to Acquire Hugging Face for Over $13 Billion

Salesforce Shares Rise 12% After Hours, Q2 Revenue Reaches $11.35 Billion

BMO Gives Broadcom an 'Outperform' Rating with a Target Price of $455

Zhejiang Data Group Established with a Registered Capital of 2 Billion Yuan

Alibaba Completes HK$80 Billion New Share Placement for AI and Cloud Infrastructure

Changxin Technology Fully Exercises Over-allotment Option in IPO

Changxin Technology Fully Exercises Over-allotment Option in IPO

Alloco Secures Investment from YZi Labs, First Product Launching Soon

Emerald AI Raises $150 Million in Series A Funding, Valuation Reaches $1.05 Billion

Maudau Reduces Workforce Due to Russian Attacks on Logistics

Wrtn Completes Financing with a Valuation of $870 Million

AI Security Startup Alice Raises $140 Million, Valuation Approaches $1 Billion

JPMorgan Reaffirms Overweight Rating and $240 Price Target for SpaceX

Car Imports to Ukraine Decreased by 17%

Samsung and SK Hynix Leveraged Products See Nearly $1 Billion Outflow This Month

Whales Cash Out Over $1.2 Billion in Three Days, Setting a Record

Smilyansky Denies NBU's Accusations of Money Laundering 11 Billion UAH

Putin Allows Seizure of Enterprises Affected by Drone Attacks

Ionic Digital Increases Bitcoin Holdings to 2,882, AI Business Accounts for 90% of Revenue

Morgan Asset Management: September Investment-Grade Bond Issuance May Reach $250 Billion

Porsche Sells IT Business to Tata for €1.25 Billion

Xpeng Robotics Raises Over $900 Million, Post-Money Valuation Exceeds $6.3 Billion

Government Purchases of Gasoline in Russia Exceed Prices in the EU









