Crypto Markets Today: Bitcoin Holds Range as Altcoins Deepen Losses After Fed Cut
Bitcoin is range-bound near $90,350 after the Fed's rate cut failed to spark momentum, while altcoins deepened losses.Summary
The crypto market has settled at the lower end of its trading range following the Federal Reserve's 25 basis point rate cut, which failed to provide fresh upward momentum as the move was largely anticipated. Bitcoin is currently trading around $90,350, defending the $88,200 support but struggling to break the $94,500 resistance. Market indicators show declining implied volatility, negative risk reversals suggesting a preference for puts, and a sharp drop in open interest, particularly for ADA, signaling capital flight into the year-end. Altcoins suffered significantly, with tokens like ETHFI, FET, ADA, and PUMP dropping over 8% due to low liquidity, while privacy coin Monero (XMR) gained ground. The broader altcoin season index remains very low at 19/100, indicating a strong investor preference for Bitcoin and Ethereum over more speculative assets.
(Source：CoinDesk)