Bitcoin failed to break above the $94,500 level and slid to around $91,530 during the Asia session, pulling the broader cryptocurrency market lower. The retreat returns BTC to the range that had characterized December trading, with the market testing support near $93,750 and stalling around UTC 10:00. Altcoins broadly weakened, with PENGU down 6.5% and XRP down 3.5%, while meme coins and privacy coins led losses; U.S. equities moved lower in premarket trading with Nasdaq-100 futures down about 0.32%.
The CME Bitcoin futures market shows signs of revival, with open interest rising from about 100,000 BTC to roughly 110,000 BTC since December 30. Total open interest across globally listed crypto futures remains above $1.43 trillion, near a two-month high, and funding rates remain modestly bullish. Deribit BTC and ETH put skew continues to ease, though no definitive bullish signal has emerged; CoinDesk’s CDME meme coin index fell 1.5%, while DeFi TVL rose 0.17% and the Altcoin Season metric stood at 25/100.
Market participants will monitor momentum as open interest climbs and macro sentiment evolves. Traders will also watch liquidity conditions and potential catalysts for a breakout or further consolidation.
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