Market picture between yesterday and today shows how terrible things in the crypto world. It shows the total capitalization of cryptocurrencies as having declined by almost two percent to $1.54 trillion in just about 24 hours.
The move is said to be relative to the U.S and European indices still rising. Some experts suggest that since this year has been marked by impressive growth in cryptocurrencies, profit-taking looks good.
Big ups for Bitcoin
Bitcoin has seen more that 170 percent growth from the start of 2023. The peak of the growth was seen last week. The Bitcoin market has seen massive gains in levels of $34 and $38K.
At local levels, Bitcoin is being actively bought back at such levels above $40.5k. That clearly protects a significant round level.
Failure in the case of a reversal of stock indices and a widespread thrust from risky assets has not been seen yet.
Further, the Fed has a chance to influence the situation with its rate decision. That can affect demand for many days to come.