Crypto Market Ends Week Lower Amid Rising Oil Prices and Tightening Expectations

The cryptocurrency market ended the week of September 7-11 mostly lower due to rising oil prices, accelerating inflation in the U.S., and a sharp increase in expectations of further monetary tightening by the Federal Reserve (Fed).

According to Fixygen, Bitcoin (BTC) fell to approximately $77,000, while Ethereum (ETH) remained in the range of $2,450-$2,460.

The total market capitalization of the cryptocurrency market is about $2.73 trillion, with a daily trading volume of about $95 billion.

Bitcoin accounts for approximately 56.8% of the market, while Ethereum accounts for about 11%. The main external factor was a shift in expectations regarding U.S. interest rates.