Market overview

The crypto market capitalisation rose by 1% over the past 24 hours, rebounding from the local lows reached the previous day, thanks to a shift towards riskier assets. However, the cryptocurrency market remains 10% below its local peak in early May and 43% below its global peak in October last year. By comparison, over the same period, the Nasdaq 100 gained 4% and 21%, respectively, challenging the notion of a direct correlation between these indices. This by no means indicates widespread negativity, as over the past 24 hours Stellar has gained 23%, IOTA 13%, and Algorand 10%, while the worst-performing coins among those actively traded were Bitcoin Cash (-6.3%), Tron (-3.3%) and Filecoin (-2%).

Bitcoin dipped below $73K on…