Bitcoin
Why Bitcoin is down 1.6% today
Analysis
Bitcoin fell 1.6% over the past 24 hours as broader risk sentiment weakened, with CoinDesk noting “AI fears” pressuring tech while precious metals also plunged, dragging BTC back toward last week’s lows. At the same time, Cointelegraph reported bitcoin open interest dropped to levels not seen since 2024, suggesting reduced derivatives participation that can coincide with softer price action.
Contributing Factors (3)
Bitcoin open interest hits lows not seen since 2024: Is TradFi abandoning BTC?
Bitcoin open interest falls to $34 billion as investor demand dries up and traders’ concerns shift to worrying US macroeconomic data. Is TradFi exiting BTC?
Bitcoin tumbles back near last week's lows as AI fears crush tech and precious metals plunge
The strong correlation between crypto and the software sector reasserted itself on Wednesday
Joe Lubin claims DeFi is as safe as traditional finance, adding that bitcoin is in crisis
During an interview at Consensus Hong Kong 2026, Joseph Lubin argued that "blue chip" decentralized finance has reached parity with traditional banking.
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