Market Alert: Bitcoin Retraces Rally as Fear Dominates 📉

Crypto markets remain under pressure this week, with Bitcoin giving back nearly all of its late-November gains and investor sentiment stuck in "extreme fear." Here’s what you need to know:

📊 Market Snapshot:

· BTC trading near $87,000, down from last week’s high above $92,350

· Altcoins largely in the red, privacy coins hit hardest (ZEC -8%, XMR/DASH -5-6%)

· SKY (formerly MKR) bucked the trend, rising 6.7% on buyback news and growing USDS stablecoin adoption

📈 Derivatives Signal Caution:

· Futures open interest down 3–6% for BTC, ETH, XRP, SOL

· BTC futures basis at cycle lows (4–5% annualized)

· Options activity shows bearish bias, with put spreads dominating

🔍 Why It Matters:

Bitcoin is underperforming U.S.equities, and the Altcoin Season Index remains low at 24/100, indicating capital is still concentrated in BTC and selected DeFi tokens.

💡 One Bright Spot:

Interest inUSDS (formerly DAI) continues to grow—its market cap has risen from $7.6B to $9.5B in two months, offering a 4.5% staking yield within the Sky ecosystem.

What to Watch:

· Can BTC hold above $86,000 support?

· Will SKY’s momentum continue amid broader market fear?

· Monitoring volatility spread between BTC and ETH for clues on next moves

Trade carefully, manage risk, and keep an eye on derivatives trends for directional signals.

#Bitcoin #BTC #CryptoMarket #Altcoins #Trading #Derivatives #FearAndGreed #BinanceSquare #Cryptocurrency #Blockchain

#DeFi #Stablecoin #SKY #USDS #MarketUpdate

$BTC

BTC

91,134.15

-2.48%