Bitcoin Holds Near $63K as Options OI Tops $34B, Ethereum Foundation Cuts 20%

Crypto News Bitcoin's derivatives market opened the session with total options open interest at $34.42 billion, a marginal 0.35% decline from the prior day's $34.54 billion, according to derivatives open-interest data. Calls accounted for 59.27% of outstanding positions against 40.73% for puts, yet 24-hour trading volume of roughly $3.71 billion tilted defensive, with puts representing 51.35% of turnover. The single most active contract was the $62,000 put expiring the same day, signaling hedging demand as spot prices hovered just above that strike. Deribit handled about $1.71 billion of the flow, followed by Bybit and Binance, underscoring how traders positioned for near-term volatility rather than firm directional conviction. A broad sell-off in technology equities rippled into digital assets, dragging Bitcoin to an intraday low near $61,938 before it recovered to trade around $63,000. The decline tracked steep losses across Asian markets, where South Korea's Kospi sank roughly 10% as Samsung and SK Hynix each shed more than 12%. Ether and Solana fell harder than Bitcoin, with major altcoins down 6% to 7% over 24 hours. On-chain data shows only about 52% of Bitcoin's circulating supply sits in profit, a level some analysts read as a capitulation signal, while a one-year MVRV divergence hinted at coins rotating from panic sellers toward longer-term holders. The Ethereum Foundation confirmed it cut roughly 20% of its workforce, a restructuring that reverberated across community channels. Severance and transition-support terms were detailed alongside the reductions, framing the move as an organizational overhaul rather than a retreat. Reaction split sharply: some observers welcomed the leaner structure as overdue discipline at one of crypto's most influential nonprofits, while others questioned whether the cuts signal deeper uncertainty about Ethereum's roadmap and competitive position. The timing — amid a risk-off market and softening altcoin valuations — amplified the debate, turning an internal staffing decision into a referendum on the network's long-term direction and its capacity to defend developer mindshare. Security anxieties intensified after reports that a web-wallet vulnerability in Yoroi, a widely used Cardano wallet, drained ADA from multiple users without any phishing on their part. Victims described losing funds simply for having used the affected software, sharpening concern over flaws baked into the wallet rather than user error. Separately, an Ethereum Name Service impersonation episode showed how a lookalike handle — capital letters hidden by platforms that lowercase names — can resolve to an entirely different address. Such cases reinforce why a hardened AI crypto wallet and rigorous address verification matter, especially as attackers exploit naming-system gaps and route stolen proceeds through mixers to obscure on-chain trails. Traditional safe havens cooled in tandem, with gold trading near $4,110.70 an ounce and silver around $61.97 as both metals digested recent record highs. The Federal Reserve's decision to hold rates at elevated levels has extended a strong-dollar regime, delaying anticipated cuts and capping bullion's upside even amid geopolitical strain. Notably, gold slipped rather than rallied through recent Middle East tensions, illustrating how monetary policy and currency dynamics can outweigh war-risk premiums. Silver's larger swings reflect its dual identity as both precious metal and industrial input tied to solar and electronics demand. The pullback suggests investors are pausing between safe-haven flight and profit-taking. Payment and infrastructure developments cut against the gloom. KG Inicis integrated stablecoin settlement on Solana, extending the network's reach into Korean commerce and reinforcing a steady drumbeat of partnership news even during a downturn, as global regulators weigh how stablecoin designs should coexist with fiat. Meanwhile, anticipation built around GRVT, with community sleuths parsing on-chain clues, a Wormhole-based BNB Chain bridge, and the rumored close of points programs ahead of a token generation event. A published airdrop calculator let users estimate token allocations from season points, fueling speculation about timing while builders kept shipping rails and launches. Taken together, these threads sketch a market caught between structural building and acute fear. COINOTAG's aggregate data frames the mood precisely: our Fear & Greed Index sits at 17, deep in Extreme Fear, while Bitcoin dominance has climbed to 70.3% as capital flees altcoins for relative safety, leaving the total crypto market capitalization near $1.8 trillion. Defensive options positioning, record spot-ETF outflows, and a 52%-in-profit supply read all point to stress, yet payment integrations, token launches, and a softening institutional stance on stablecoins signal durable foundations. The all-time high of $126,080 set in October 2025 now sits roughly double current levels — a gap that defines the recovery still ahead.COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.