Crypto Markets Today: Bitcoin (BTC) Defends $100K Price as Traders Flee Altcoins
Bitcoin held the $100K level despite a 30-day 18% decline, while most altcoins struggled except for surging AI tokens.Summary
The crypto market experienced another drawdown on Friday, with Bitcoin dropping to $100,600 and Ether languishing, continuing a 30-day decline of 18% for BTC, largely driven by renewed Federal Reserve caution suggesting a potential cooling of rate cuts, which strengthened the U.S. dollar.
In derivatives markets, Bitcoin futures open interest fell to $24.91 billion as traders deleveraged, indicating low conviction, though the options market showed bullish bias with calls dominating puts 64% to 35%. Crucially, the $100,000 level is now strongly supported by significant long liquidation walls, suggesting the market will defend this psychological barrier.
Altcoins, excluding the AI sector, performed worse than Bitcoin, with the "altcoin season" index hitting a 90-day low of 22/100. However, AI-linked tokens like FET and NEAR saw gains exceeding 20% as traders rotated into high-volume, narrative-driven plays, defying the broader market weakness.
(Source：CoinDesk)