Kaspa’s Recent Drop: Macro Risk-Off and Technical Trading

Kaspa’s roughly 4 percentage point drop over the last 10 hours is best explained by a broad risk-off move in crypto rather than any Kaspa specific news.

Marketwide Risk Off Environment

The move in Kaspa fits almost one for one into a broader crypto and macro risk-off backdrop over this period.

Over the last 24 hours, total crypto market cap fell from about $2.94 trillion to $2.82 trillion, a drop of roughly 4.15%, while the altcoin market cap fell from about $1.19 trillion to $1.15 trillion, around 3.32% lower. At the same time, global bond yields pushed to multi-decade highs. For example, the U.S. 10-year Treasury yield reached about 5.35%, the highest since 2002,…