Crypto Market Bearish Amidst Expired BTC, ETH Options

The crypto market dropped by 2.67% in the last 24 hours to $2.28 trillion, primarily driven by a hotter-than-expected U.S. inflation report.  The January U.S. PPI rose 0.5% month-over-month, significantly above the 0.3% forecast, with Core PPI jumping 0.8%.

This data dampened expectations for near-term Federal Reserve rate cuts, increasing the appeal of traditional safe havens like gold while triggering a selloff in rate-sensitive assets, including crypto.

Market sentiment remains deeply negative, with the Fear & Greed Index stuck at “Extreme Fear” (16). Concurrently, total derivatives open interest fell 4.9% in 24h, indicating traders are closing speculative positions and reducing…