Crypto Markets Today: Bitcoin Treads Water After Fed Cut as Altcoin Slump Deepens

Despite the Federal Reserve cutting interest rates by 25 basis points, Bitcoin remained stuck in a range between $88,000 and $94,000, briefly dipping below $90,000 post-announcement without a clear fundamental catalyst. This price action defied typical expectations where rate cuts boost risk assets. Meanwhile, the altcoin market showed significant weakness, with tokens like JUP, KAS, and QNT experiencing double-digit weekly losses. This shift is highlighted by CoinMarketCap’s altcoin season index falling to a cycle low of 16/100, and CoinDesk’s Memecoin Index being down 59% year-to-date compared to a 7.3% loss in the CD10. This suggests a market transition away from retail-driven hype toward slower, more institutionally led price action. Volatility indices for both BTC and ETH are declining, indicating traders anticipate choppy conditions, though some privacy coins like Zcash saw intraday gains.

(Source：CoinDesk)