Bitcoin and ether stabilized on Thursday, but altcoins faced deeper losses as sentiment across the crypto market remained firmly in the “fear” zone.
Bitcoin hovered near $103,000, while ether posted a modest gain of under 1%, trading around $3,500 as the market worked to establish new support levels.
Despite the steady performance from the two largest cryptocurrencies, broader sentiment remains weak. The average crypto RSI continues to sit in neutral territory, while the Fear & Greed Index registered 25/100, signaling a risk-off environment.
Altcoins saw far more turbulence. AERO dropped 18% in the past 24 hours after disclosing a merger plan with Velodrome. STRK and FET also slid sharply, each posting double-digit declines.
XRP was the exception among major tokens, rising 3.5% on the back of elevated options market activity.
Market participants say crypto is still waiting for a decisive catalyst. Traders are watching to see whether the pullback from October’s record highs deepens or if the market can build a base around $98,000. Meanwhile, the U.S. dollar remains relatively strong near 99.8 on the DXY index; a break above 100 could further weigh on risk assets, including digital assets.
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