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

Bitcoin Price Rebounds

Bitcoin jumped from a low of $88,000 last Sunday to nearly $89,900. However, this value continues to remain well below the recorded peak of $94,300 following the Federal Reserve's 25 basis point interest rate cut.

Altcoins Continue to Decline

More than half of the top 100 tokens in the cryptocurrency market have lost value in the last 24 hours. The CoinDesk 20 index saw 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 remain in a depressed state. At the same time, Bitcoin dominance continues to increase, indicating that investors are gravitating towards assets with larger market capitalizations.