1052 ET - Bitcoin is down 1% in morning trade, to $83,508. While bitcoin has been sliding since rising to as high as $87,000 early this week, analysts don't expect it to completely reverse these gains. "We would treat a retracement toward $80K as an accumulation opportunity rather than a failure of the breakout," says Colin Basco of Coinbase Institutional in a note. Basco adds that the market sentiment around bitcoin is decidedly more positive than the price action seen in the token supports. "Sentiment has run ahead of positioning," says Basco, noting that CoinMarketCap's Fear and Greed index is firmly in 'greed' territory. Ethereum is flat at $2,684, XRP is up 2.6% to $1.57, and solana rises 1.8% to $118.91.
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