Bitcoin and ether traded mostly unchanged on Thursday, even as altcoins absorbed heavier selling pressure and overall market sentiment stayed locked in “fear” mode.
Bitcoin continued to build short-term support near $103,000, while ether edged up slightly but remained below the $3,500 mark. Despite the relative calm in the majors, sentiment indicators point to lingering caution: the average crypto RSI sits in a neutral band, and the Fear and Greed Index is firmly depressed at 25/100.
The altcoin market saw more pronounced volatility. AERO dropped 18% after announcing a merger with Velodrome, while STRK and FET also posted steep double-digit losses as traders rotated out of higher-beta tokens.
One standout was XRP, which added 3.5% and outperformed most large-cap assets following strong activity in the options market.
Market analysts say cryptocurrencies are still searching for a clear catalyst to determine near-term direction — whether the pullback from October’s peak evolves into a deeper correction, or whether the region around $98,000 becomes a durable support zone for bitcoin. Meanwhile, the U.S. dollar remains a key variable: the DXY hovering around 99.8 suggests resilience, and a push above 100 could apply additional pressure to crypto markets.
