Daily View

Bitcoin extended its slide, dropping roughly $5,000 in recent days and falling below $77,000 as spot and perpetual selling pressure intensified, while options positioning shifted toward downside protection and broader crypto sentiment turned more defensive. Macro conditions remain cautious, with HSBC warning that more central banks could continue hiking rates even if geopolitical tensions ease, a backdrop that keeps pressure on risk assets alongside softer equity tone and firm dollar dynamics. Overall, crypto market sentiment is risk-off, with weak retail participation and traders increasingly positioned for further volatility rather than a near-term recovery.