Crypto Markets Post Modest Growth Amid Ongoing Global Uncertainty
Crypto markets have seen modest growth this week, with Bitcoin rising 1.22% and Ethereum increasing by only 0.24%. The total crypto market cap has also ticked higher, reaching $2.71T from $2.69T the previous week.
Despite this growth, funding rates remain in healthy ranges, with most major assets under 10%. This stability could be a result of the market's cautious approach due to lingering fears over escalating Iran conflicts and rising inflation.
Crypto continues to outperform its traditional finance counterparts, with the S&P 500 up only 0.16% this week and the Nasdaq down 0.22% in the same period.
Notable developments include Michael Saylor's Strategy acquiring 4,603 BTC for $370M, increasing cash reserves by $29M, and buying back $152M in STRC shares.