What is moving the market
The market sentiment is largely neutral with a slight bearish lean, driven by concerns over interest rate hikes and negative news surrounding hacks and exploits. However, there is also positive news regarding institutional adoption and technical improvements.
Biggest risk
Bitcoin saw a decline of over 3% following hawkish remarks from Fed Chair Warsh, which fueled rate-hike expectations and pushed the price below $77,000. Solana experienced a significant drop after an exploit at Avici neobank, causing its token to crash by 40%. Despite these movements, there's positive news regarding the approval of a proposal to accelerate Solana's disinflation and continued inflows into Bitcoin ETFs.
