On Tuesday, the market continued to panic, Bitcoin held at the $87,000 mark, and the DeFi coin SKY rose against the trend.

The market sentiment on Tuesday still hasn't improved, with the “extreme fear” index hanging around. Bitcoin is hovering around $87,000, and the pump from late November has basically fizzled out. Alts are doing even worse, with Zcash leading the fall at 8%, and other coins aren't faring much better.

Looking at the futures market, one can feel the chill — funds are fleeing, and the basis has plummeted sharply. In simple terms, it means that everyone is not optimistic about the future market. However, there are exceptions; the DeFi sector's SKY (formerly known as MKR) has risen against the trend by 6.7%, due to rumors of a buyback, which has also led to a noticeable increase in its stablecoin USDS. That's how the market is; there are always people picking up chips while others are bleeding.