Bitcoin clings to $62,500 as bears tighten grip

Bitcoin held near $62,268 as ether and the CoinDesk 20 Index fell, with 18 of 20 constituents declining. Derivatives positioning is broadly bearish: SOL futures open interest hit a lifetime high while funding rates and CVD stayed negative, and ETH open interest rose as prices fell. Bitcoin must hold $60,000 to avoid dropping to a range not seen since late 2024, with $52,000 as a key downside level.