Ontology (ONT) is down 2.5% to $0.1360 this week, slightly underperforming the broader crypto market, with Bitcoin (BTC) trading neutrally at $81,700. Cryptocurrencies are struggling alongside U.S. stocks as the Federal Reserve maintains a tight policy while the American economy continues to cool. Recession fears are pressuring markets, with the S&P 500 already down 9.5% from its peak of 6,147 points.
The newly established U.S. Federal crypto reserve could offer long-term market support, but investors need confidence that the current correction has ended. Until then, ONT is likely to drift further downward toward its support at $0.1000.
