FET Token Sees Brief Bounce Amid Broader Altcoin Weakness

The Artificial Superintelligence Alliance (FET) token experienced a 4.54% technical bounce in the past 24 hours, but this recovery was still marked by broader altcoin weakness.

Despite this short-term gain, FET's price has dropped 6.52% over the past week.

This rebound coincided with Bitcoin's recovery following the Federal Reserve's interest-rate decision, which could be a contributing factor to the altcoin market's volatility.

The sentiment in the altcoin market remains largely pessimistic, with the total altcoin market cap (excluding Ethereum) up 1.48% over 20 hours but trending lower since the first week of July.