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Crypto Heavyweights Pull Back as Altcoins Rotate

Crypto Heavyweights Pull Back as Altcoins Rotate

Fig. 1. The crypto market has been trading within a narrow range for the third day. Source: CoinMarketCap and FxPro

The crypto market’s capitalisation has remained stable at around $2.86T for the third day in a row. The market continues to ignore the strengthening of the dollar and the rise in global government bond yields. It appears that current levels are not yet attractive to cryptocurrency investors, who are waiting for a better offer or at least signs that traditional markets are bottoming out. Still, it cannot be said that all cryptocurrencies have come to a standstill while waiting.

Over the past 24 hours, among the most liquid coins, there has been a slight trend towards profit-taking, with the sharpest declines seen in…

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