The crypto market pulled back on Friday following a strong rebound on Thursday.
Summary
- The crypto market backpedalled on part of its recent gains after BTC faced rejection at $74K.
- Concerns around a major options expiry event and capital rotation to traditional safe-haven assets have also suppressed demand for risk assets.
After rallying nearly 5.5% over the past day, the global crypto market capitalization once again retracted, dropping 2% to $2.48 trillion on Friday, March 6. Bitcoin (BTC) was down 1.8% in the daily timeframe, while Ethereum (ETH) posted losses of 1.3%. Other major cryptocurrencies, such as BNB (BNB), XRP (XRP), and Solana (SOL), also faced similar…
