Bitcoin Faces Massive Options Expiry as Market Struggles With Fading Institutional Demand
Bitcoin is grappling with a significant options expiry, adding pressure to a market already challenged by diminishing institutional interest and macroeconomic headwinds. The cryptocurrency is also dealing with high liquidation losses, exceeding $1 billion, as it battles to hold critical support levels. ⚡ Paxos-Issued PAXG Gold Token Launches on Solana Mainnet via Sunrise Protocol
The Paxos-issued gold token PAXG has officially launched on the Solana mainnet via the Sunrise protocol. This integration marks PAXG's availability on Solana, making it the first OCC-regulated gold-backed token accessible on the network. 📉 Strategy’s STRC Preferred Shares Fall Below $82 to Record Low
MicroStrategy's preferred shares (STRC) plunged below $82, hitting a record low of $81.83 after a 6.3% decline. This drop indicates increasing investor fear towards Bitcoin within the U.S. stock market, as the shares were initially issued near a par value of $100.
📈 Mainstream Asset Performance (24h) BTC: -1.3% — Current Price: $59,536.31 ETH: -3.0% — Current Price: $1,570.96 SOL: -1.6% — Current Price: $66.37 BNB: -1.2% — Current Price: $554.11
🚀 Top Gainers (Selected 2–3) TNSR: +34.3% — Significant increase in trading volume and continuous capital inflow. HEI: +31.1% — Significant increase in trading volume and continuous capital inflow.
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Bitcoin (BTC) rebounded to around $59,800, up 2.7% from Thursday’s low of $58,206, according to CoinDesk, even as Asian equities slid. BTC was still down over 5% this week and nearly 20% for the month. CF Benchmarks head of research Gabe Selby said the $50–60K zone has acted as support since mid-2024 after the U.S. spot ETF launch rally. South Korea’s Kospi fell 8% and Japan’s Nikkei lost 3% amid broader risk aversion.