Cryptocurrency Markets Today: Bitcoin is Rising, Risk Appetite is Weak

Bitcoin Price Bounces Back

Bitcoin has bounced back from a low of $88,000 last Sunday to reach around $89,900. However, this value remains significantly below the peak of $94,300 recorded after the Federal Reserve's 25 basis points interest rate cut.

Decline Continues in Altcoins

More than half of the top 100 tokens in the cryptocurrency market have lost value in the last 24 hours. The CoinDesk 20 index showed only a 0.16% increase, while the broader CD80 index declined by 0.77%. This situation highlights the ongoing poor performance of altcoins.

Market sentiment has dropped back to "extreme fear" levels. Indicators signaling an altcoin season continue to remain in a depressed state. Meanwhile, Bitcoin dominance continues to rise. This suggests that investors are gravitating towards assets with larger market capitalizations.