Smart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight day

MarketsSmart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight dayConcerns about STRC, the dividend-paying preferred stock from Strategy continue to dominate market sentiment.By Omkar Godbole|Edited by Sheldon Reback Jun 19, 2026, 10:47 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowMajor cryptocurrencies, including bitcoin and ether, extended declines for a fourth day, with broad CoinDesk indexes falling amid mounting selling pressure.Market sentiment has soured on Strategy (MSTR) and its STRC preferred stock, as investors worry the company and stressed bitcoin miners may be forced sellers after months of sub-cost BTC prices.Derivatives data show heavy long liquidations, elevated open interest, bearish funding rates and rising demand for protective bitcoin puts.The largest cryptocurrencies remained under pressure for a fourth straight day, with bitcoin falling 2.5% in 24 hours to just below $62,400.It's not alone. The CoinDesk 20 Index (CD20) has dropped 3.3%, with ether (ETH), XRP (XRP) and solana (SOL) all weaker. The CoinDesk Smart Contract Platform Select Capped Index fell 4%, and the CoinDesk 80 and CoinDesk DeFi Select Index are following close behind.Concerns about Strategy (MSTR), the Michael Saylor-led bitcoin treasury company, continue to dominate market sentiment, with particular focus on its dividend-paying preferred stock, STRC."Strategy, the largest listed BTC holder, has watched its STRC preferred collapse below par, and the market is now openly pricing the tail that it has to sell coins to defend the structure," analysts at Marex said."Add five straight months of BTC trading under its estimated $78k production cost, quietly forcing the weakest miners to capitulate, and you have two real sellers that were not in the frame a week ago," they added.Derivatives PositioningBulls continue to bleed as the market wilts in the wake of Wednesday's hawkis…

Smart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight day

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