Bitcoin fell 1.5% below $109,000 on Tuesday during early Asian trading hours, while Ethereum dropped over 3% to under $3,900, as traders remain cautious despite modest gains in DeFi, PayFi, and meme 0 to Glassnode, last week’s sharp drop from $115,000 to $104,000 flushed out weak hands and triggered a defensive market 1 open interest and funding rates have declined, and demand for downside protection has surged, signaling a shift toward risk 2 Bitcoin briefly rebounded to around $111,000, the market structure remains fragile and dominated by caution.
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