Market Overview

The crypto market capitalisation has fallen by 2.3% over the past 24 hours to $2.58T. Of the approximately 40 most actively traded cryptocurrencies, only Zcash has risen over the past 24 hours, gaining 3.8%. The worst performers in our sample were Filecoin (−9.2%), IOTA (−8.8%) and Stellar (−8.6%).

Bitcoin fell below $75K on Tuesday, hitting a 3.5-week low after the CLARITY Act vote failed in the US Senate, before partially recovering to $75.9K by the start of active trading in Europe. Nevertheless, the price has fallen below the consolidation range, forming a downtrend over the past week and a half. The market lull can easily be attributed to expectations of signals from the Fed later on Wednesday, which have…