The Crypto Rundown 242: Bitcoin, Ethereum and HYPE Feel the Heat

Crypto assets and related options (BTC, ETH, HYPE, PURR, MSTR, BMNR) broadly sold off, while large directional bets in IBIT and PURR options signaled active positioning.

• Broad crypto pullback: Bitcoin fell from ~$85,490 to ~$82,526 week-over-week, dragging most top-10 assets lower; total cost to crack the top 10 dropped from $22.3B to $20.9B market cap.
• IBIT options active: IBIT traded at $46.65 (down ~1.75 points) with 30-day vol at 36 and ~750K ADV; a 20,000-lot March 60-70 call vertical was the day's hot trade.

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