The global cryptocurrency market cap was trading marginally higher at the $1.02 trillion mark, rising more than 1% in the last 24 hours. However, the total trading volume tumbled over 18% to $59.37 billion.
Panic returned to the financial markets this week with the US Dollar index DXY crossing 108 - here’s why this matters! As expected, the DXY hike contributed to ending the brief recovery rally, especially in the crypto markets.
Crypto’s on and off correlation with stocks continued on Friday as the Nasdaq and S&P 500 dropped 2% and 1.2%, respectively. Stocks had risen four straight weeks before succumbing to fresh unease about inflation's staying power and monetary policies.
What you should look forward to: