Risk-on, But Not for Crypto
Market Overview
The crypto market capitalisation grew by 0.67% over the past day to $2.99 trillion. Bulls are seeking to take advantage of increased risk appetite in traditional markets but are facing increased selling pressure as they approach the $3 trillion mark. Of course, this is not one big ‘battle for crypto,’ but a series of separate battles in cryptocurrencies, where the flagships are doing slightly better, with Ethereum, BNB, XRP, and Solana gaining about 1.5% over the past 24 hours.
Bitcoin is up 0.6% on the day, trading above $88K, having encountered increased selling pressure over the last two days in attempts to climb above $89K, despite the collapse of the dollar, which has already helped the stock and metals…
