Bitcoin Holds $112K as Altcoins Decline Sharply
Bitcoin traded near the lower end of its range on Wednesday, around $112,000, while altcoins faced steeper losses.
Cryptocurrencies struggled to follow bullish trends in equities and precious metals, with BTC posting only modest gains. Altcoins underperformed, led by Fetch.ai (FET), which fell 6.2% after Ocean Protocol exited the ASI Alliance and reportedly began offloading tokens on Binance. MYX dropped 10%, and PancakeSwap (CAKE) declined 4%.
The “altcoin season” index on CoinMarketCap fell to 38/100 from 67/100 earlier this month, reflecting a cooling in smaller digital asset momentum and waning investor enthusiasm.
