Altcoins

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Illustration depicting Kalshi's CFTC approval for altcoin perpetual futures in a trading office setting.
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Kalshi receives CFTC approval for altcoin perpetual futures

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Kalshi has secured formal approval from the Commodity Futures Trading Commission to offer perpetual futures on several altcoins in the United States. The move positions the platform to expand into an emerging market for crypto derivatives. Hyperliquid also saw significant trading activity following the regulatory development.

Isolated gains in select altcoins over the past month have not led to a wider rally across the market. Data shows persistent selling pressure and shifting dominance metrics.

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Michael van de Poppe says Hyperliquid’s surge and renewed interest in AI-focused crypto projects signal a broader return of risk appetite in altcoins. He highlighted recent gains in the HYPE token and pointed to undervalued AI-linked projects as key drivers.

On January 25, 2026, Bitcoin dropped below $88,000, triggering $135 million in long liquidations and contributing to a broader crypto market decline. The total market capitalization fell below $3 trillion after shedding $220 billion over the past week. Ethereum also tumbled to $2,800 as bearish patterns and macroeconomic risks weighed on investor sentiment.

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Crypto analyst Benjamin Cowen has cautioned traders against trying to manufacture a bull market, pointing to declining market breadth indicators. Bitcoin reached highs above $126,000 in 2025 before pulling back to the $90,000 range amid macroeconomic uncertainty. A recent report highlights reduced activity in options markets for Bitcoin and Ethereum.

Bitcoin dropped below $93,000 on November 17, 2025, erasing all its year-to-date gains and marking a 27% decline from its October record high. The sell-off intensified bearish sentiment across cryptocurrencies, with altcoins plunging to five-year lows and related stocks tumbling. Analysts suggest a local bottom may be forming as short-term holders capitulate.

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The cryptocurrency market has begun to rebound after a significant downturn, with XRP and Ethereum leading the gains. Between November 1 and yesterday, nearly $400 billion was erased from the market due to declines in major cryptocurrencies.

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