The crypto market fell on Tuesday, with bitcoin (BTC) losing 2.5% to $62,300 and ether (ETH) dropping over 4% to $1,650. The selloff followed a downturn in tech stocks, with Nasdaq 100 futures declining 2.5%. Altcoins suffered worse, with tokens like ethena (ENA) and hype (HYPE) losing 5%-6%, and $717 million in liquidations amplifying losses. The Dollar Index (DXY) rose to a year-high of 101.15. Derivatives data show sellers dominate among top 25 coins, with negative OI-adjusted cumulative volume delta (CVD) for many. SpaceX futures saw a 10% surge in open interest despite a 15% price drop, indicating short-side leverage. BTC futures open interest fell to 720K BTC from 742K, while ETH futures rebounded slightly. Options market structure shows long calls underwater amid price collapse, with put-call skews indicating persistent demand for downside protection. Privacy coins DASH and XMR showed resilience, losing less than 1%, while ZEC fell 4.2% due to prior exploit. AI tokens FET, RENDER, and TAO dropped 3%-5%. The average crypto RSI at 39.05 suggests oversold conditions, potentially paving way for a relief rally.

Key facts

• Bitcoin fell 2.5% to $62,300, ether dropped over 4% to $1,650.
• $717 million in liquidations amplified losses across altcoins.
• Derivatives show sellers dominate; SpaceX OI surged 10% on short leverage.
• Options market: long calls underwater, put-call skews show demand for downside.
• Privacy coins DASH and XMR lost <1%; average RSI at 39.05 signals oversold.

KeyAudit data perspective