Bitcoin Near $112K as Altcoins Take a Hit
Bitcoin traded near the lower end of its range on Wednesday, around $112,000, while altcoins suffered sharper losses.
Cryptocurrencies lagged behind gains in equities and precious metals, with BTC showing only modest upside. Altcoins underperformed, led by Fetch.ai (FET), which fell 6.2% after Ocean Protocol exited the ASI Alliance and reportedly began selling its tokens on Binance. MYX dropped 10%, and PancakeSwap (CAKE) declined 4%, as the “altcoin season” index on CoinMarketCap fell to 38/100 from 67/100 earlier this month, indicating waning momentum in smaller crypto assets.
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