CoinDesk·1d ago·negative

Crypto market turns 'defensive and thin' after hawkish Fed, Marex analysts say

Bitcoin slipped below $64,000 and over $440M in long positions were liquidated as the Fed's hawkish stance crushed rate-cut hopes, with Marex analysts calling positioning 'defensive and thin.'

Bitcoin fell 1% to near $63,900; ether, XRP, BNB and SOL also posted losses
Over $440 million in futures positions liquidated in 24 hours, mostly bullish longs
Marex analysts say sentiment is 'washed out' with the fear gauge at extreme fear levels
Traders are buying put options expiring June 21 to hedge against further downside
Bitcoin is now 48% off its $126k high from October 2025

marketImpact 6/10

Why our editor rated this negative

Broad market weakness, heavy liquidations, defensive positioning, and a hawkish Fed all point to a negative short-term outlook for crypto.

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