Bitcoin Recovers From $84K Lows but Altcoins Stay Weak; Market Sentiment Still Fearful

Most major cryptocurrencies are still struggling as the market sentiment remains weak. While Bitcoin has bounced slightly from its recent lows, popular altcoins like Ethereum, Solana, Dogecoin, and Cardano have not been able to recover and are trading far below their earlier support levels.

As per the CoinDCX research team, "Bitcoin price is trying to stabilise above $86,500 after recovering from the interim lows below $84,000. With this, a minimal recovery was seen among the other altcoins like Ethereum and XRP, while SOL, DOGE, LTC, and ADA remain consolidated below their respective broken support. However, the broader market sentiments continue to remain under fear, suggesting the market participants are uncertain about the current recovery.

Top Cryptocurrency Prices on December 2nd

Bitcoin's Price Today: BTC climbed 1.20% in the last 24 hours to trade at $87,219.41, but this rebound was not enough to erase its weekly losses, which now stand at 0.17%, and a deeper 21.12% decline over the past month.

"BTC traded within the $84K-$88K range, with buyers stepping in on dips. After briefly testing the $84K-$85K support zone, the market absorbed the move and shifted into consolidation. A late-session push lifted BTC back above $86K. If the price holds above $85.5K, momentum could build toward $87.5K-$88K, the next resistance zone. A clean break above this level may open a move toward $89K-$90K." According to CoinSwitch Markets Desk

Ethereum Price Today: ETH slipped 0.58% to $2,823, taking its weekly fall to 4.62% and recording a sharp 27.77% drop over the past 30 days.

Stablecoin Prices Today: Both USDT & USDC were steady, at $1.00 and $0.9998, respectively.

Among top altcoins, XRP traded at $2.04, down 0.21% in the last 24 hours and 7.73% over the week, while Binance Coin (BNB) saw a mild rise of 2.03%, trading at $841.68. However, BNB still remains down 22.30% for the month.
Solana recovered slightly by 0.60% to $127.98, though it remains one of the worst-hit major tokens, falling 31.93% in the last 30 days because of the massive selling pressure.

TRON, trading at $0.2780, managed to stay relatively strong with a 1.28% weekly gain and is one of the few coins showing positive short-term gains.

Popular meme coins traded in red; Dogecoin (DOGE) fell to $0.1365, marking a 10.83% weekly decline and a 26.92% drop in the past month. Meanwhile, Cardano (ADA) traded at $0.3920, rising 2.27% in the last 24 hours but still down 35.91% on a monthly basis, impacted by the slowdown in development activity and lower network participation.

One of the outperformers today was WhiteBIT Coin (WBT), which surged 4.29% to $57.94. It remains among the few tokens posting gains, rising 4.71% over the last month.

Expert Analysis: What Could Be The Market Movements Ahead

"The crypto market is under pressure as Bitcoin struggles to hold $86,000 while volatility spikes across risk assets. Rate hike signals and the upcoming FOMC decision have tightened liquidity and drained confidence after Bitcoin's worst day since early November. At the same time, the market is tracking historical on-chain signals that have appeared before strong Bitcoin rebounds. If global risk stabilises and flows begin to normalise, volatility could flip to the upside, but until then, the market will remain sensitive to policy cues and shallow order books." said Avinash Shekhar, co-founder & CEO, Pi42

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