Crypto Markets: Bitcoin is Down, Altcoins Remain Weak

Bitcoin lost 1.5% of its value from last night's peak, failing to regain the $94,700 level. This situation reinforces the downward trend that has been ongoing since the beginning of October.

CoinDesk 20 index declined by 1.6% as of UTC midnight. During this process, Bitcoin dominance increased, highlighting the continued weakness in the performance of altcoins.

The average relative strength index (RSI) in the markets is measured at 38.49. This value indicates that the market is oversold and suggests a potential short-term recovery could occur without any positive year-end effects.