Crypto Market Holds Firm Amidst Tech Sector Sell-Off
The cryptocurrency market has shown resilience in the face of a sell-off in the tech sector, according to recent data.
On Tuesday, the crypto market capitalisation fell towards $2.14 trillion, a level it has repeatedly found support at over the past three weeks.
This time was no exception, leaving the market above its 50-day moving average and indicating buyer strength.
Cryptocurrencies have remained relatively stable despite the Nasdaq-100 entering a technical correction with a more than 10% decline from its peak.
Bitcoin dipped below $63,000 before recovering to $64,300, and market forces are currently on the bulls' side in this area.
The current support level is lower than it was in February-April, but large long-term investors seem to be driving the market with fresh inflows of capital.