Bitcoin Range-Bound After Fed as Altcoins, Memecoins Struggle
Bitcoin remains confined to a narrow range following the Federal Reserve’s 25-basis-point rate cut, while altcoins and memecoins continue to face weak demand amid changing investor behavior.
Over the past week, BTC ($90,237.24) has traded between $88,000 and $94,000, showing muted response to the Fed’s move. Rate cuts typically encourage risk-taking by reducing the appeal of cash, but bitcoin briefly fell below $90,000 before rebounding. The CoinDesk 20 Index is up 0.57% since midnight UTC.
Altcoins remain under pressure, with JUP ($0.2021), KAS ($0.04612), and QNT ($79.72) posting double-digit weekly losses.
Derivatives and Market Activity
- BTC’s 30-day implied volatility (Volmex BVIV) has dropped to its lowest level since Nov. 10, while ETH volatility is also near multi-month lows.
- Deribit data shows put biases for BTC and ETH remain intact, with calendar spreads dominating block flows.
- In futures markets, ZEC’s open interest rose 16% to 2.28 million, approaching its record high of 2.32 million. HYPE, SUI, and SOL also saw notable OI gains, while BTC and ETH OI stayed largely flat.
Altcoin Performance
Privacy coins led gains, with ZEC up 9% in the past 24 hours. AAVE, HYPE, and LIDO saw intraday recoveries, though weekly results remain muted. CoinMarketCap’s altcoin season indicator has fallen to 16/100, reflecting weak speculative activity. Memecoins continue to lag, with the CoinDesk Memecoin Index down 59% YTD versus a 7.3% decline for the CoinDesk 10.
The persistent weakness in memecoins signals a broader shift in market behavior. Retail-driven hype has given way to institutional participation, including ETFs and digital asset treasury strategies, favoring steady price movements over speculative rallies.
