Crypto Markets Today: Risk-Off Mood Persists as Altcoins Extend Losses

Crypto markets remained subdued on Tuesday, failing to bounce back from Monday's sell-off, as a persistent risk-off mood eroded investor confidence. Bitcoin traded around $87,000, erasing nearly all of its late November rally and underperforming U.S. equities, while the Fear & Greed Index stayed in "extreme fear." Derivatives data showed capital outflow from futures markets for BTC, ETH, XRP, and SOL, with BTC's futures basis dropping to cycle lows. Altcoins suffered further, with privacy coins hit hardest; Zcash (ZEC) plunged another 8%, and Monero (XMR) and Dash (DASH) dropped 5%-6%. Conversely, SKY saw a 6.7% rise following news of token buybacks and growing interest in its stablecoin, USDS. Overall market sentiment suggests continued turbulence, with options flows favoring bearish strategies.

(Source：CoinDesk)