Crypto Market Regains Strength Amid Weakening Dollar and Falling Oil Prices

The crypto market has regained its strength after rising steadily for two consecutive days. The total market capitalization has reached $2.19 trillion, a level seen at the end of last week.

Despite the reduced correlation between cryptocurrencies and US equities, investors have continued to show interest in cryptos amidst a weakening dollar and falling oil prices.

The 50-day moving average remains a key battleground for market sentiment. Popular coins like Cardano and NEAR Protocol saw declines of -2.6% and -2.5%, respectively, while Basic Attention Token and Zcash rose by +2.4% and +6% over the past day.

Bitcoin has reclaimed its strength after a dip to $62.5K on Monday, with bulls pushing the price above the 50-day moving average. Binance Coin has also surged to $600, testing its highest levels in two months and breaking above the 50-day MA at the end of last month.