Polkadot and Cosmos Gain in a Rocky Week for Crypto: CoinDesk Indices Market Update
All but four cryptos in the CoinDesk 20 posted losses over the last week, led by declines in NEAR, BCH, and DOGE.
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CoinDesk 20
All but four cryptos in the CoinDesk 20 posted losses over the last week, led by declines in NEAR, BCH, and DOGE.
BTC is down nearly 9% in the last 24 hours having dropped below the $60,000 support level late on Tuesday.
All 20 assets in the gauge posted declines over the past week, led by Solana, Cardano, and Aptos.
The crypto market is balancing the threat of stagflation against a liquidity injection from the Treasury General Account (TGA), and the launch of Hong Kong’s bitcoin ETFs.
CoinDesk 20 top performers (CoinDesk Indices)
CoinDesk 20 leaders (CoinDesk Indices)
CoinDesk 20 Index (CoinDesk Indices)
The world’s largest crypto regained the $69,000 level at one point in the session before slipping a bit.
Flows into the new spot ETFs have been subdued for a couple of weeks, possibly prompting a renewed interest in macro drivers for price direction.