Bitcoin Range-Bound Post-Fed as Altcoins, Memecoins Struggle
Bitcoin remains trapped in a narrow range following the Federal Reserve’s 25-basis-point rate cut, while altcoins and memecoins continue to face weak demand.
Over the past week, BTC ($90,237.24) traded between $88,000 and $94,000, briefly dipping below $90,000 before rebounding. While rate cuts typically encourage risk-taking, bitcoin and the broader crypto market have shown muted reactions. The CoinDesk 20 Index is up 0.57% since midnight UTC.
Altcoins struggled, with JUP ($0.2021), KAS ($0.04612), and QNT ($79.72) posting double-digit weekly losses. Privacy coins led short-term gains, as ZEC rose 9% in 24 hours, while AAVE, HYPE, and LIDO saw intraday recoveries.
Derivatives and Market Trends
BTC’s 30-day implied volatility fell to its lowest since Nov. 10, with ETH volatility similarly subdued. Put biases remain intact on Deribit, while calendar spreads dominate block flows. Futures open interest surged for ZEC (+16% to 2.28M), HYPE, SUI, and SOL, though BTC and ETH OI stayed flat.
CoinMarketCap’s altcoin season indicator dropped to a cycle low of 16/100, and memecoins lag, with the CoinDesk Memecoin Index down 59% YTD versus 7.3% for the CoinDesk 10. The trend reflects a shift from retail-driven speculation to measured, institutional-driven trading, favoring steady gains over hype-fueled swings.
