Bitcoin has steadied at approximately $67,000, recovering slightly after a significant 9.5% decline over the past week. This price level places Bitcoin back in the trading range it occupied between February and April. The recent downturn comes despite U.S. stock markets reaching record highs, raising concerns among investors as these asset classes typically move in tandem. Should Bitcoin drop below $60,000, it could trigger a wave of liquidations, potentially pushing the price down to $54,000, a critical support level. Meanwhile, altcoins such as Ethena have surged, with Ethena rising over 20% following Coinbase's announcement of its integration into a new savings product. The Altcoin Season indicator has also climbed to 53/100, reflecting a growing appetite for altcoins despite Bitcoin's struggles. Additionally, over $1.7 billion in leveraged crypto futures positions were liquidated, primarily affecting bullish bets, indicating a bearish trend in the market. Options traders are increasingly seeking downside protection, with a notable demand for puts as market volatility rises.