Bitcoin, Altcoins Test Support as Momentum Fades Amid Ongoing Conflict and Economic Uncertainty

Crypto markets are experiencing a moderate correction on Thursday, with Bitcoin (BTC) testing its near-term $78,000 support. Ethereum (ETH) and Ripple (XRP) are echoing BTC's cautious sentiment, with ETH retreating to approximately $2,470 and XRP dipping to $1.38.

Despite the ongoing broad price correction, appetite for risk assets remains elevated, with market sentiment at 69 in Greed territory of the Fear & Greed Index on Thursday. This level is only marginally higher than the day before's reading of 66.

'A market that digests a violent move rather than reversing it is a market that has genuinely repriced,' said Yusuf Fakhro, Partner at ARP Digital.