Crypto Markets: Bitcoin is Down, Altcoins Remain Weak

Bitcoin has lost 1.5% from its highest level last night, failing to regain the $94,700 mark. This situation reinforces a declining trend that has persisted since the beginning of October.

CoinDesk 20 index has declined by 1.6% as of UTC midnight. During this process, Bitcoin dominance has increased, highlighting the ongoing 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 that a short-term recovery may be possible without any positive effects by the end of the year.