Crypto Markets Today: BTC’s gain lacks derivative traders’ support; YZY leads to losses

Bitcoin (BTC) is recovering near 113,600 USD, though on-chain indicators point to possible selling pressure. This comes alongside a noticeable recent interest in altcoins like SOL and ADA.

The CoinDesk 80 Index has increased by 4%, showing positive altcoin market sentiment. Alex Kuptsikevich from FxPro mentions that rising altcoin values are influencing investor risk appetite.

While BTC’s price gains are evident, open interest in perpetual futures is declining, raising concerns over sustainability. In contrast, SOL, ADA, and other altcoins are seeing increasing futures activity.