Friday’s rebound gave way to renewed weakness as Bitcoin slipped back below 66,000, underscoring ongoing pressure in crypto markets. With expectations for Fed rate cuts fading, traders question the durability of any recent rally, a pattern many analysts say reflects a broader bear phase that started last year. A late-week spike near 72,000 from a Thursday low around 60,000 added to chatter of a dead-cat bounce rather than a sustained uptrend. In morning U.S. trading, BTC again traded just under 66,000, off over 4% in the last 24 hours.
Ether and Solana declined roughly 5.5%, while XRP dipped about 3.5%, underscoring widespread weakness across the space. Despite the softer price action, global asset classes are showing strength, suggesting investor interest in crypto remains waning as risk appetite shifts elsewhere. Market data reinforce the cautious tone: CoinGlass noted a further drop in Bitcoin perpetual futures open interest, now about 51% below the October 2025 peak, signaling reduced leverage and waning trader confidence. In Korea, investors have stepped back as domestic equities push to record highs, with the crypto stock sector posting no notable gainers and Robinhood (HOOD) down around 12.5%.
Coinbase faced negative pressure as Q4 crypto trading revenue cooled ahead of results, while BlackRock’s entry into DeFi and the planned Uniswap listing of the BUIDL token drew attention, lifting UNI. Uniswap is expected to facilitate BUIDL trading, with Securitize handling regulatory compliance. As the macro backdrop remains unsettled, traders will monitor whether the current weakness evolves into a sustained downtrend or a more durable recovery emerges alongside improving liquidity and evolving DeFi dynamics.
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