Cryptocurrency prices hold broadly stable on Friday, as Bitcoin (BTC) attempts to rise above the reclaimed $82,000 level. Ethereum (ETH) sits above the pivotal $2,500 level while Ripple (XRP) edges up after reclaiming the $1.40 level as support.

Crypto market sentiment softens

The sell-off in the crypto market this week was largely driven by macroeconomic headwinds, geopolitical tensions in the Middle East amid elevated Oil and Energy prices, and overleveraged long positions. Bitcoin declined from highs near $87,000, testing support at $80,000 on Thursday.

The correction appeared to align with softening demand for crypto assets, as reflected in the Fear & Greed Index at 59 in the Greed territory on Friday, down from 64 the day before….