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- Declining sentiment negatively impacts the cryptocurrency market, with Bitcoin, Ethereum, and XRP experiencing volatility.
The war in the Middle East continues to push global markets to the brink of collapse, despite reports indicating ongoing talks between the United States and Iran. Rising oil prices, with West Texas Intermediate surpassing $92, negatively affect sentiment as central banks prepare for a potential rise in inflation.
West Texas Intermediate Price
Market sentiment in cryptocurrencies remains weak, as risk aversion leads to capital outflows. The Fear and Greed Index in the crypto market stayed at 10 on Thursday, in the extreme fear zone, down from 14 the previous day.
Cryptocurrency Fear and Greed Index
Spot Ethereum ETF funds experienced outflows for six consecutive days, with investors withdrawing approximately $8.5 million on Wednesday. Total inflows reached $11.66 billion, with an average net asset value of $12.51 billion. If outflows continue, persistent risk aversion among investors could hinder Ethereum's recovery.
Ethereum ETF Fund Flows.
$BTC
$ETH
$XRP
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