Crypto Markets Today: BTC's Gain Lacks Derivative Traders' Support; YZY Leads to Losses

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Omkar Godbole, Shaurya Malwa

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Mentions

People	Alex Kuptsikevich, Ye (Kanye West)
Organizations	CoinDesk, FxPro, Bybit, Binance, OKX, Deribit, Hyperliquid, CME, Bubblemaps, Yeezy Investments LLC

Code	Name
US	🇺🇸United States

Target	Sentiment	Comment
BitcoinBTC	Bearish	Divergence between price performance and futures open interest raises doubts about sustainability.
YZYYZY	Bearish	Structural flaws in token distribution led to significant losses for retail traders.
NFTs	Bearish	Celebrity-based memecoins often funnel gains to insiders, leaving retail buyers at a loss.