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US Dollar Surge Dampens Crypto Market Momentum

From blockworks.co

Rallies in both traditional and crypto-related equities experienced temporary setbacks last week, as benchmark cryptocurrency, bitcoin, ended the session 3.4% lower to $22,930. Digital assets have taken pause after a 33% increase in total market value year-to-date — from $828.7 billion to $1.1 trillion — driven largely by renewed interest in the asset class in the first quarter. On-chain analytics platform CryptoQuant told Blockworks bitcoin appears to have bottomed with some valuation metrics suggesting the start of an “early bull stage.” The shift in sentiment is expected to have a ripple effect on the altcoin ... (full story)

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  • Category: Fundamental Analysis