Bitcoin showed resilience during the recent market sell-off, while altcoins experienced significant liquidations estimated to be between $8 billion to $10 billion. Bybit reported that Bitcoin outperformed the wider crypto market, with its perpetual swaps performing better as well. On the other hand, Ethereum's options market saw a sharp increase in short-term volatility. Liquidations across BTC, ETH, XRP, and SOL's perpetual swaps reached over $3.1 billion in open interest. Altcoins also saw deeper negative funding rates after the crash, while BTC remained relatively stable. Despite the market turmoil, trading volume surged, reaching the highest daily volume in over a month. Short-term options volatility for Bitcoin eased after an initial spike, suggesting a return to stability, at least for the time being.



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