Bitcoin prices have retreated below the $87,000 level, accompanied by a wider market sell-off. The Layer 2 sector has underperformed significantly, dropping nearly 8% with major projects like Starknet and zkSync recording double-digit losses. This downward movement has triggered a reduction in Open Interest, suggesting a washout of leveraged positions. Conversely, Gold has shown strength, surpassing $4,250, highlighting a divergence between the two asset classes during this window.