Market Overview - The total cryptocurrency market capitalization has decreased by 3.0% to $3.78 trillion, with a 24-hour trading volume of $192 billion, indicating reduced market activity [1][8] - The Fear & Greed Index has fallen to 34, indicating a state of fear in the market [8] Cryptocurrency Performance - Among the top 10 cryptocurrencies, 8 have experienced declines, with Bitcoin (BTC) down 3.5% to $109,373 and Ethereum (ETH) down 3.6% to $3,868 [3][8] - Other notable declines include XRP down 4.4% to $2.54, Solana down 3.9% to $190.92, and Dogecoin down 4.4% to $0.1872 [3][8] Altcoin Gains - Despite the overall downturn, some altcoins have shown significant gains, such as Aurora (AURORA) up 65.1% to $0.08555, Jelly-My-Jelly (JMJ) up 50.6%, and Anvil (ANVL) up 44.0% [4] - PepeNode (PNODE) and BlockchainFX (BFX) are trending despite declines of 19.7% and 5.7%, indicating strong retail interest [4] Institutional Developments - 21Shares has filed with the SEC to launch a Hyperliquid (HYPE) ETF, reflecting growing institutional interest in altcoin-linked investment products [5] - This filing follows a similar application by Bitwise, highlighting increasing competition among asset managers for decentralized trading exposure [5] Federal Reserve Impact - The US Federal Reserve's recent 25 basis-point rate cut has influenced market dynamics, with Bitcoin briefly dropping to $109K [7][8] - The end of quantitative tightening (QT) in December is expected to return liquidity to the market, potentially setting the stage for an "alt season," although past patterns suggest such optimism may be short-lived [9]