Bitcoin (BTC) and Major Altcoins Decline as Traders Seek Downside Protection

The cryptocurrency market experienced a notable downturn, with Bitcoin (BTC) and other major digital assets facing selling pressure. Analysts attribute this movement to traders actively positioning themselves for potential further declines, utilizing instruments like options for downside protection. This shift in market sentiment highlights increased caution among investors, leading to a broad-based retreat across leading tokens including Ethereum (ETH). Market participants are closely monitoring key support levels as volatility persists in the digital asset space.