Crypto prices were little changed over the past 24 hours, with bitcoin stabilizing after retreating from last week’s post-Federal Reserve highs, while altcoins continued to lag amid a broader risk-off backdrop.

The market opened the week much as it closed the previous one, with overall price action largely flat and sentiment slipping back into the “extreme fear” zone.

Bitcoin (BTC) is trading near $89,900, recovering modestly from Sunday’s low around $88,000 but still showing signs of fatigue after topping out near $94,300 following the Federal Reserve’s 25-basis-point rate cut last week.

Volatility across the altcoin market has continued to fade. Major tokens such as ether (ETH) and TRX rose by less than 2% over the past day, while more than half of the top 100 cryptocurrencies posted losses over the same period.

Market-wide performance remains uneven. The CoinDesk 20 (CD20) Index was up 0.16% on Monday, while the broader CoinDesk 80 (CD80) fell 0.77%, highlighting ongoing weakness in smaller, higher-risk tokens.

Derivatives positioning

Notional open interest rose over the past 24 hours in DOGE, HYPE, SOL and ETH, while ZEC, BNB, AAVE, TRX and several smaller tokens saw capital flow out. Bitcoin open interest was largely unchanged.

DOGE futures open interest climbed to 10.80 billion DOGE, its highest level since Nov. 20, alongside moderately positive funding rates—a combination that points to bullish positioning.

XRP open interest increased by more than 3% as the token threatens to break below the long-standing $2 support level. Funding rates remain near neutral, though a decisive breakdown could encourage short positioning and push rates into negative territory.

Elsewhere, negative funding rates in XLM, MNT and HBAR suggest that short positions currently dominate. On Deribit, bitcoin’s front-end put skew has eased, while ether’s front-end puts remain more expensive, signaling a bearish bias in the ETH/BTC pair. Block flows showed demand for BTC calendar spreads and ETH put spreads.

Token talk

Altcoins broadly underperformed bitcoin over the past day, with several tokens—including AERO, TAO, ZEC and SKY—falling as much as 4.5%.

One pocket of relative strength was liquid staking tokens. Lido (LDO) and ETHFI each gained around 2%, with ETHFI’s advance following the launch of a promotional campaign offering 10% ETH cashback for ether.fi card users.

Despite the modest uptick, CoinMarketCap’s “altcoin season” index stands at 19 out of 100, only slightly above last week’s low of 16 and well below September’s peak of 78. The reading suggests investors continue to favor the relative stability of bitcoin and other large-cap tokens over more speculative assets.

Supporting that trend, CoinGlass data shows bitcoin dominance has risen steadily in recent months, climbing from 56.8% in September to 58.4%. The shift comes even as thousands of new tokens have entered the market—a dynamic that has historically diluted bitcoin’s market share.