Earlier in the week, the cryptocurrency market unexpectedly sagged 17%, lowering its total capitalization (excluding stablecoins) to $2.61 trillion, the lowest level in eight weeks. lowest level in eight weeks. Bitcoin proved to be more resilient compared to altcoins, while ether (ETH) lost 35% in two days. has lost 35%. Despite the market turmoil, bitcoin derivatives have shown resilience. While the S&P 500 index sagged 1.8% and the dollar index reached its its highest levels since November 2022, bitcoin has maintained relative stability. Open interest in bitcoin futures remained at approx. 630,000 BTC, down just 1% overnight. Bitcoin's drop below $94,000 lasted less than four hours, indicating a quick stabilization of the market. However, concerns about stock markets and a strengthening U.S. dollar could deter further gains above $100,000.