At 5.00 PM Eastern time, Bitcoin (BTC 0.98%) had slipped 1.6% to $76,978.87 while Ethereum (ETH 1.40%) was down 3.2% to $2,290.06 and Solana (SOL 1.60%) declined 2.9% to $84.19.
Crypto market movers
Most of the top cryptocurrencies by market cap fell today on broader geopolitical concerns. Bitcoin continues to consolidate, but has struggled to retake the $80,000 mark as profit-taking and uncertainty weigh on prices. Bitcoin treasury company, Strategy added another $255 million of Bitcoin to its balance sheet last week.
Meanwhile, Aave , a popular decentralized finance and lending platform, edged higher. Key players in crypto have contributed to a fund aimed at making investors whole after criminals stole around $200 million in a major hack.
What this means for investors
Bitcoin’s recent rally flagged slightly today amid stalled U.S.-Iran talks. That said, the lead cryptocurrency is still up about 14% over the past month, and market sentiment, measured by the Fear and Greed index, just moved out of “Fear” and into “Neutral.” The index uses a mix of metrics to capture investor mood and has been subdued in recent months.
Investors continued to buy spot Bitcoin ETFs on Friday, marking nine consecutive days of positive inflows. However, investor demand for Ethereum ETFs has been slower, and there are more sellers of Solana ETFs than buyers, reflecting investor caution. There are some signs of price recovery, but it is early days, and the full impact of the current geopolitical upheavals and high energy prices is unclear.
Emma Newbery has positions in Ethereum and Solana. The Motley Fool has positions in and recommends Aave, Bitcoin, Ethereum, and Solana. The Motley Fool has a disclosure policy.
