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Crypto market shakes off consolidation
The release of US inflation data sparked a surge in risk asset purchases, with cryptocurrencies leading the charge. This follows a period of prolonged consolidation, which provided enough pent-up energy to fuel increased volatility. chart Over the past 24 hours, the crypto market has added 5.3% to $2.39 trillion – its highest in ten days. But much more importantly, with this move, the market has broken through the resistance of the descending range and is now testing the previous highs. The market’s ability to gain weight on Thursday and Friday will be an important confirmation of the market’s bullish bias. ... (full story)