Crypto Markets Lag as US Dollar Weakness Fails to Spark a Risk-On Move
The crypto market capitalisation rose by another 1.1% over 24 hours to $3.02 trillion, mirroring the dollar’s weakening during this period. But this strengthening looks pale, as high-risk assets such as cryptocurrencies often move in much larger steps. For example, along with an 8% weakening of the dollar from April to June last year, rose by more than 50%. Without delving too deeply into history, it is easy to see that the 4% drop in the dollar index in less than two weeks was met with a 30% jump in silver and a 15% jump in . The US S&P 500 is also rewriting historical highs. Against this backdrop, even a slight increase in market capitalisation looks like a mild winter for cryptocurrencies, and a deeper decline is only a matter of…
