Cryptocurrency prices are moderating on Thursday, with Bitcoin (BTC) dropping to test the near-term $78,000 support. Altcoins, including Ethereum (ETH) and Ripple (XRP), are echoing Bitcoin’s cautious sentiment, with ETH retracing to approximately $2,470 and XRP 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, up only marginally from 66 the day before. If sustained, risk-on sentiment could boost the tailwind and raise the odds of a renewed breakout.

“Bitcoin has spent a fortnight consolidating in a tight band, defending the $77,000 floor that has held since…