Cryptos Defy Stronger Dollar, Market Cap Rebounds

Cryptocurrencies have continued to defy expectations by showing resilience in the face of a stronger US dollar. Despite losing 0.8% of their market capitalisation over the past 24 hours, dipping to $2.21T at the start of active trading in Asia, the upward trend remains intact.

The market's ability to shrug off the rising dollar is largely due to its decoupling from traditional financial markets. This shift has allowed cryptocurrencies to gain momentum, with top performers including Tezos (+2.6%), SushiSwap (+2.3%), and Near Protocol (+1.7%).

Bitcoin itself fell during the day from $65.8K to $64.6K but found support from buyers, pushing its price back up to $65.5K.