Bitcoin rose as much as 3.7% overnight before paring gains, trading near $65,600 within its three-week range. The strength in BTC coincided with a broad altcoin rally, lifting a number of major tokens higher and underscoring renewed risk appetite across markets. Solana and Cardano each gained roughly 4.5%, while AI-focused and fast-growing tokens such as VIRTUAL, ETHFI and MORPHO posted gains of over 10%, lifting the altcoin season metric back to its January high. U.S. equity futures rose in tandem with the crypto complex, signaling renewed risk-on momentum across markets.
Traders should note that the relative strength index moved away from oversold levels toward a neutral zone, hinting at a potential consolidation after the recent rally. In derivatives data, cumulative open interest in crypto futures rose by more than 1.5% to about $93.5 billion, driven largely by spot price appreciation rather than fresh capital inflows. Bitcoin and ether futures largely held their levels, while gold-linked products showed liquidity draining. The altcoin season gauge surged to its highest level since early January, reflective of a broad-based rally across multiple coins.
Among individual tokens, the AI-focused VIRTUAL token jumped about 15.5% on the day and more than 20% in the past 24 hours, making it the top performer in the CoinDesk 80 index, which also gained modestly. Restaking token ETHFI rose more than 10% after CEO Mike Silagadze suggested a potential stablecoin rollout, while Morpho’s token continued its strong run, rising around 15% in the past 24 hours and about 45% over the past 30 days. Toncoin and PIPPIN posted declines in the last 24 hours, signaling ongoing asset rotation among traders and investors.
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