CoinDesk·8h ago·negative

Bitcoin slides for 4th day as DeFi and smart-contract tokens lead broader selloff

Bitcoin fell to $62,400 as a four-day selloff deepened, with DeFi and smart-contract tokens hit hardest. Over $450 million in leveraged longs were liquidated.

Bitcoin dropped 2.5% to below $62,400, extending losses for a fourth straight day.
The CoinDesk Smart Contract Platform Index fell 4%, leading sector declines.
Over $450 million in leveraged long positions were liquidated in 24 hours.
Traders are buying put options betting bitcoin could slide to $52,000.
Concerns about Strategy's STRC preferred stock and stressed miners are weighing on sentiment.

marketImpact 7/10

Why our editor rated this negative

Broad market selloff with heavy liquidations, bearish derivatives positioning, and concerns about forced selling from miners and Strategy point to a clearly negative market environment.

Read the full story at CoinDesk

Coinporta summarises news for fast scanning. Full reporting belongs to the source.

Share

Back to all news