Bitcoin's price fell after nearing $64,000, as institutional interest waned, highlighted by a 32-month low in CME futures open interest. Yusuf Fakhro of ARP Digital noted a spike in six-month options skew, indicating increased demand for downside protection, reminiscent of major cycle bottoms in 2022.
The market's focus shifted as Brent crude rose 0.6% to $72.45 per barrel following a projectile strike on a liquefied natural gas carrier near the Omani coast, raising geopolitical tensions. Additionally, Asian markets saw declines, with South Korea's Kospi dropping 6.7% and Samsung Electronics falling 8.3%, despite strong quarterly profits.
Bitcoin Declines After Approaching $64,000 Amid Institutional Retreat
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