Bitcoin falls to $62,400 as crypto market extends losses to fourth day; DeFi and smart contract coins hit hardest
By
Omkar Godbole
Summary
Bitcoin and major cryptocurrencies fell for a fourth consecutive day, with BTC dropping 2.5% to below $62,400. The broader CoinDesk 20 Index fell 3.3%, while smart contract platform and DeFi-focused indices saw even steeper declines of 4%. Market sentiment is dominated by concerns about Strategy (MSTR), Michael Saylor's bitcoin treasury company, particularly regarding its dividend-paying preferred stock.
Source
bskyBitcoin falls to $62,400 as crypto market extends losses to fourth day; DeFi and smart contract coins hit hardestcoindesk.comKey quotes
· 4 pulledThe largest cryptocurrencies remained under pressure for a fourth straight day, with bitcoin falling 2.5% in 24 hours to just below $62,400.
The CoinDesk 20 Index (CD20) has dropped 3.3%, with ether (ETH), XRP (XRP) and solana (SOL) all weaker.
The CoinDesk Smart Contract Platform Select Capped Index fell 4%, and the CoinDesk 80 and CoinDesk DeFi Select Index are following close behind.
Concerns about Strategy (MSTR), the Michael Saylor-led bitcoin treasury company, continue to dominate market sentiment, with particular focus on its dividend-paying preferred stock.
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