Cryptocurrency prices varied today, Saturday, as experts warned of the recent rise of Bitcoin.
Today, Saturday, the market value of cryptocurrencies increased by 1.06% to reach $1.10 trillion, with a cash flow in the last 24 hours of $65.56 billion.
While this recent price movement was linked to further developments in the macro economy, it was also linked to the Fed’s interest rate decision.
The rise in stock markets in general stimulates investors to seek higher-risk assets such as digital assets.
Bitcoin has moved positively with the US Nasdaq index since late November, unlike previous years, when it was moving in the opposite direction of the index automatically.
Bitcoin started August with a correction after testing the $24,000 level in the last days of July. In its latest report on the crypto markets, Glassnode attributes the recent decline in Bitcoin to lower network activity, and confirms that Bitcoin and Ethereum network activity remains low.