The price of Artificial Superintelligence Alliance USD (FET) has been under pressure today, primarily due to broader market concerns affecting cryptocurrencies. Recent macroeconomic uncertainties, including significant outflows from Bitcoin and Ethereum ETFs, have cast a shadow over the crypto market. These outflows, totaling $582 million for Bitcoin ETFs and $159 million for Ethereum ETFs, reflect investor apprehension amid renewed inflation fears and potential policy shifts under the incoming U.S. administration. Such market dynamics have contributed to a risk-off sentiment, impacting various cryptocurrencies, including FET.
Additionally, while NVIDIA's push for agentic AI has highlighted the potential for AI-related blockchain projects like FET, the immediate market sentiment remains cautious. Despite the long-term bullish outlook for AI altcoins, as noted by NVIDIA CEO Jensen Huang, the current market environment is dominated by short-term volatility and profit-taking. This has led to a pullback in FET's price, as investors reassess their positions in light of broader market trends.
FET's price has decreased by 4.38% today, reaching a low of $1.278765.