Cryptocurrency Market Sees Mixed Trend with Declines and Gains

The cryptocurrency market has been experiencing a mixed trend, with some major tokens facing significant losses while others show promising gains.

According to recent data, Bitcoin's price has fallen to around $67,000 after bouncing to $70,000 on Wednesday. This decline is not limited to Bitcoin alone, as Ether, Solana, and the CoinDesk 20 Index have also registered similar losses.

In contrast, Decred (DCR) has been a standout performer, rising by 16% in the past 24 hours and trading at $34.58, its highest level since November. This gain is largely attributed to the token's revised treasury rules, which have led to an increase of over 80% in value.

Market participants remain cautious, with many seeking put options as a form of downside protection. Deribit has reported that ETF holders and corporate treasuries are buying put options at the $60,000 strike price expiring in six to 12 months. Analysts advise against taking big risks and suggest that long-term investors consider staggered accumulation near support zones.