Crypto Today: Risk-Averse Sentiment as Minor Tokens Display Overheating

Crypto Markets Hold Steady as Altcoins Show Strength
September 19, 2025

The crypto market continues to trade cautiously, awaiting new catalysts following the Federal Reserve’s rate cut. Bitcoin (BTC) has settled into a narrow trading range, with $118,000 acting as a critical resistance level for bulls.

Bitcoin futures open interest has risen to 149,000 BTC, ending a two-month decline. The increase signals renewed capital inflows, potentially tilted toward bearish hedging, as the three-month annualized premium remains below 10%.

Smaller tokens are gaining momentum, hinting at a potential altcoin season. Over the past 24 hours, IMX, NEAR, and HASH each surged more than 10%, standing out as the only top-100 coins with double-digit gains.

Timothy Misir, head of research at BRN, urged traders to manage risk carefully.

“Institutional flows and large accumulation address activity support the bullish case; record options open interest and dense supply near $118,000 create tangible pinch points. Trade the market as it is: keep position sizes prudent, manage leverage tightly, and use $115,200 as the primary tape guardrail while watching $118,000 for a clear breakout signal,” Misir said.