Bitcoin Derivatives See $1.8 Billion Sell Wave as Price Retreats to $63,000

Bitcoin's derivatives market has faced a sharp uptick in selling as the price fell back to $63,000 after trading near $70,000. According to CryptoQuant, roughly $1.8 billion in sell volume hit the market within one hour, coinciding with renewed geopolitical tensions involving the United States and Iran. Data also show a drop in a key derivatives pressure index from 30% to 18%, reflecting a rapid swing toward bearish sentiment.