Crypto Market Today: OG, ASTR Surge as Bitcoin Defends $112K
The crypto market has shown signs of recovery with Bitcoin stabilizing around $112,000, although it remains below its 50-day simple moving average, signaling short-term weakness. Overall, the broader market, indicated by the CoinDesk 20 Index, has increased over 1%. The OG token from the decentralized AI operating system 0G has surged over 50% after its launch on September 18, significantly boosting market interest. Other notable performers include Avalanche's AVAX, which rose by 10%, driving excitement across platforms like Aster and Lighter, as challenges emerge for established players like Hyperliquid. Additionally, there has been a decline in global notional futures open interest due to recent liquidations, with potential for a short squeeze among bearish positions in various tokens. While Bitcoin futures have shown stalled growth, options trading indicates a bullish sentiment, hinting at possible resilience in the market in the future.
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