Market Overview

The crypto market has lost just over 2% compared to its level seven days ago. However, there were signs of a positive trend on Monday, as the market capitalisation rebounded from a local low of $2.16T to $2.18T. The market continues to hover around its 50-day moving average, consolidating within a very narrow range despite the weakening dollar and a rally in the equity market. Among the top cryptocurrencies over the past 24 hours, the top gainers were Zcash (+4.8%), Dash (+2.4%) and Near Protocol (+1%). Declines affected roughly twice as many coins, with the biggest losses seen in Cosmos (-3.8%), Aptos (-2.7%) and Filecoin (-2%).

Bitcoin has been trading below its 50-day moving average for the fourth day in a row, after…