Market overview

The crypto market capitalisation fell from $2.12T to $2.02T before rebounding to $2.06T, where it had stabilised at the time of writing as active trading began in Europe. Selling pressure intensified after a fresh downward surge in stock indices. This morning, cryptocurrencies again appeared stable or rebounding, but these sentiments will only be tested once active US trading begins. Over the past 24 hours, the top performers among the most liquid coins were AAVE (+5.6%), Solana (+0.7%) and Theta Network (+0.1%). Lagging behind were Algorand (-6.7%), Polkadot (-6.2%) and NEAR Protocol (-6.1%). 

Bitcoin approached $58K at its lows late Thursday and early Friday, but in both cases, aggressive buying quickly pushed it back…