Bitcoin (BTC) continues to fall this Thursday morning (25), pressured by cryptocurrency options about to expire and outflows in ETFs (index funds) in cash from the United States.
At around 8 am, the largest digital currency in the sector is trading at US$63,465, with a devaluation of -4.40% in the last 24 hours. Ethereum (ETH) and the main altcoins are also falling.
Among the cryptocurrencies with the lowest market value, only two are in the positive field – TRON (TRX) and LEO Token (LEO). The entire market capitalization fell -4.8% on the day, to US$2.45 trillion.
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Bitcoin’s rise in the last 5 days, with low trading volume, already signaled a scenario of pullback (a short-lived movement that goes against the trajectory of an asset), according to Fernando Pereira, analyst at broker Bitget.
“The increase in selling volume, formed when the cryptocurrency rose half of the drop at the beginning of the month, now indicates a likely return to the US$60,000 region in the coming days,” he said.
One of the pressures on the crypto sector comes from the derivatives market. Around US$9.5 billion in Bitcoin and Ethereum purchase and sale options will expire on Friday (26) on the Deribit exchange, which should generate some tension.
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An option contract gives the investor the right, but not the obligation, to acquire or dispose of an underlying asset (in this case, a cryptocurrency) at a pre-agreed price. A put option indicates some pessimism, while a call option signals the opposite.
The other pressure on the crypto market comes from US spot ETFs. Data from the SoSoValue platform shows that index funds recorded a total daily net outflow of US$120 million on Wednesday (24). Eight of the 11 financial vehicles had zero flow.
“Zero entry days are typical and do not indicate product failure,” said Rachael Lucas, crypto analyst at BTC Markets, to the cryptocurrency portal The Block. “And this also coincides with market performance and geopolitical tensions, highlighting complexities that go beyond ETF flows.”
On Wall Street, US futures indexes also operate lower following the quarterly results of Meta and IBM. Dow Jones Futures falls -0.35%, S&P 500 Futures shrinks -0.51% and Nasdaq Futures delivers losses of -0.82%.
Check out the performance of the main cryptocurrencies at 8am:
| Cryptocurrency | Price | Variation in the last 24 hours |
| Bitcoin (BTC) | $63,465 | -4.40% |
| Ethereum (ETH) | $3,112 | -4.10% |
| BNB Chain (BNB) | US$607.94 | -1.40% |
| Solana (SOL) | $145 | -7.50% |
| XRP (XRP) | $0.5187 | -4.60% |
The cryptocurrencies with the biggest gains in the last 24 hours:
| Cryptocurrency | Price | Variation in the last 24 hours |
| TRON (TRX) | $0.1142 | +0.70% |
| LEO Token (LEO) | $5.76 | +0.50% |
The cryptocurrencies with the biggest drops in the last 24 hours:
| Cryptocurrency | Price | Variation in the last 24 hours |
| dogwifehat (WIF) | $2.87 | -14.90% |
| Jupiter (JUP) | $1.03 | -13.10% |
| Hedera (HBAR) | $0.1108 | -12.70% |
| Fetch.ai (FET) | $2.23 | -11.40% |
| Ethena (ENA) | $0.8425 | -11.10% |
Check out how cryptocurrency ETFs closed in the last trading session:
| ETF | Price | Variation |
| Hashdex NCI (HASH11) | R$ 49.80 | -3.30% |
| BTCN Hashdex (BITH11) | R$ 77.02 | -2.88% |
| Hashdex Ethereum (ETHE11) | BRL 47.09 | -2.40% |
| Hashdex DeFi (DEFI11) | R$ 29.29 | -3.65% |
| Hashdex Smart Contract Platform FI (WEB311) | R$ 33.09 | -2.67% |
| Hasdex Crypto Metaverse (META11) | BRL 47.81 | -3.25% |
| QR Bitcoin (QBTC11) | R$ 20.80 | -1.84% |
| QR Ether (QETH11) | R$ 11.40 | -3.63% |
| QR DeFi (QDFI11) | R$ 4.14 | +0.72% |
| Crypto20 EMPCI (CRPT11) | R$ 13.96 | -2.78% |
| I invest in NFTSCI (NFTS11) | R$ 10.27 | -4.55% |
| I invest BLOKCI (BLOK11) | R$ 185.00 | -4.33% |
Tags: Bitcoin extends fall pressured ETF outflows options expiry
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