– The crypto markets could do with a boost amid a string of disasters this year, and in fairness, the week has started off on a strong note.
– Total market capitalisation surpassed the $1tln mark on the back of a 4.21% day-on-day rally.
– Thats still a sobering $2tln below 2021 highs, but a welcome figure in a time when good news is in short supply.
– Despite a bullish Monday, if and this is a big if cryptos perceived correlation with tech stocks is a given, then analysts forecasts are a bit of a buzzkill.
– If cryptos correlation with tech stocks is strong, then the tech earnings season could have a big impact on the crypto markets.
– However, the extent of this correlation is disputed, with some analysts saying that it is driven by macro financial trends rather than tech earnings specifically.