Crypto Markets Struggle as Bitcoin Holds $112,000, Altcoins Slide

Bitcoin traded near the lower end of its range on Wednesday, hovering around $112,000, while altcoins faced sharper losses.

Despite bullish moves in equities and precious metals, cryptocurrencies showed limited upside. BTC posted only modest gains, failing to keep pace with broader markets.

Altcoins underperformed, led by Fetch.ai (FET), which dropped 6.2% after Ocean Protocol exited the ASI Alliance and reportedly began offloading its tokens on Binance. MYX fell 10%, and PancakeSwap (CAKE) slid 4%, reflecting weakening momentum in the altcoin market. The “altcoin season” index on CoinMarketCap fell to 38/100, down from 67/100 earlier this month, signaling cooling interest in smaller digital assets.