Bitcoin held above $62,500 and ether near $1,665, but sluggish price action and widening put skews signal bears remain firmly in control. Derivatives positioning is broadly bearish: Even though SOL futures open interest hit a lifetime high, funding rates and CVD are both negative and ETH open interest rose as prices fell. Both combinations point to fresh short positioning, while put-call skew on Deribit widened sharply to favor downside protection. The absence of a meaningful bounce despite a p…
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