Bitcoin Near $112K as Altcoins Suffer Losses
Bitcoin traded near $112,000 on Wednesday, holding at the lower end of its recent range, while altcoins faced more significant declines.
Fetch.ai (FET) led the downturn, falling 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 weakening momentum in smaller digital assets.
Despite gains in equities and precious metals, crypto markets struggled to follow suit, as investors appeared to take a more defensive approach.
