• Bitcoin steadies near $67,000 as traders pay for crash protection The average bitcoin ETF investor now sits on a 20% paper loss, leaving the market vulnerable to capitulation selling if prices slide further, a Wintermute trader said. • What to know: Bitcoin stabilized around $67,000, avoiding a further breakdown for the moment, while altcoins lagged. • Policy talks at the White House on the crypto market structure bill showed incremental progress, but strains in private credit markets and potential U.S. • military action against Iran loom large over risky assets Crypto derivatives traders are playing defense, buying downside protection against a potential drop, the head of OTC at Wintermute noted. • BitcoinBTC$67,938.99found its footing on Thursday, stabilizing above a key technical level after briefly slipping below $66,000 in early U.S. • The largest cryptocurrency recently changed hands at around $67,000, up roughly 1% over the past 24 hours.
Article Summaries:
- Bitcoin held near $67,000, avoiding a further decline while altcoins lagged. The CoinDesk 20 Index trailed, though crypto‑related stocks and miners such as CleanSpark and MARA rose modestly. White‑House‑hosted talks on a digital‑asset market‑structure bill showed incremental progress, but no compromise yet. Private‑credit strains and the possibility of U.S. military action against Iran add external risk. In derivatives markets, traders are buying downside protection, effectively paying for insurance against a drop. Average U.S. Bitcoin ETF investors sit about 20 % below cost, raising concerns of capitulation selling if prices slide.
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