The crypto market capitalization fell by nearly $27 billion on July 23, amid heavy selling in the Nasdaq 100 index and many technology stocks.
On Thursday, the crypto market cap fell by $26,909,225,074, down from $2,327,831,630,015 at the beginning of the day to about $2,300,922,404,941 at the time of reporting. data from CoinGecko. Therefore, the total value of the crypto decreased by 1.16%.
As the crypto market cap fell today, the Nasdaq 100 index lost 2.5%. Trading in the crypto market and technology stocks was affected by the escalating tensions in Iran as investors divided the earnings results, according to change it from Kobeissi’s letter.
Amid the escalating Middle East crisis, the US Dollar Currency Index (DXY) rose sharply, according to analysis shared with Aksel Kibar, former fund manager. Therefore, Bitcoin (BTC) led the largest crypto market in trading, resulting in more than $180 million in long transactions, according to metrics from CoinGlass.
Factors that may affect the next crypto market
The decline in the cryptocurrency market today has coincided with the Clarity Act changes and the increase in whale activity. For example, XRP images whales have increased their volume in the last two weeks, amid the growth of XRP Ledger tokens, such as Finbold. report.
Meanwhile, as the Clarity Act promises to create clear rules for crypto currency industry, Grayscale he said that it will open the next wave of crypto adoption. In addition, crypto companies are expected to improve the implementation of traditional financial institutions (TradFi) through the presentation of real-world assets (RWA).
Previously, chain analysis demonstrations The increase in the activity of Bitcoin whale, especially the increase in the speed of purchases. For example, United States spot Bitcoin ETFs (Exchange-Traded Funds) have registered seven consecutive days of inflows, as per more from SoSoValue.
