ETH fell 0.7% to $2,344, XRP declined 1.7% to $1.42, and SOL dropped 1.5% to $85.83.
Bitcoin News
ETH fell 0.7% to $2,344, XRP declined 1.7% to $1.42, and SOL dropped 1.5% to $85.83. Bitcoin’s 24-hour range spanned roughly $1,900, with the session low of $77,464 set Thursday morning. For the week, BTC is up approximately 4%, while most major altcoins are within 2% in either direction, with ETH and SOL both in the red.
The concentration of gains in Bitcoin while altcoins stagnate or retreat points to a narrow rather than broad market bid. Funding rates in Bitcoin derivatives have remained negative for roughly 47 consecutive days, one of the longest bearish derivatives positioning streaks on record, suggesting the rally is not being carried by leveraged longs.
Geopolitical tensions in a major oil-producing region continued to weigh on sentiment, with Brent crude holding above $95 a barrel as a naval blockade disrupted shipping traffic through a critical maritime corridor. Armed confrontations involving commercial vessels in the waterway on Wednesday added to uncertainty across global markets.
Stalled ceasefire diplomacy compounded the pressure, with a planned high-level diplomatic trip canceled after one side declined to send a delegation. The White House confirmed no firm deadline has been set for a resolution, leaving the situation open-ended.
Analysts said a drop below $76,000 would confirm that $79,388 marked the top of the current leg, with any sustained recovery requiring either tangible progress on the geopolitical situation or a reversal of the extended negative funding rate environment that has kept speculative capital on the sidelines.
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