On Thursday, the cryptocurrency market experienced a decline with bitcoin (BTC) dropping approximately 0.7% since midnight UTC, settling at $80,953.28 after reaching its highest point in three months at $82,800 on Wednesday.
Ether also saw a reduction of about 1% during trading hours across Asia and Europe, currently valued at $2,325 after briefly exceeding $2,420 the previous day.
The market is exhibiting early indications of a potential bullish turn following a two-month period of consolidation from February to April. However, for bitcoin to disrupt its ongoing trend of lower peaks and troughs, it needs to surpass the $98,000 mark.
Investors appear to be shifting their focus to altcoins, with ALGO and TON experiencing gains ranging between 8% and 9% since midnight UTC.
In parallel, U.S. equity futures remained unchanged on Thursday while the dollar index (DXY) saw a slight decline of around 0.1%, as optimism persists over negotiations to end hostilities in Iran.