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In the wake of the FTX debacle, we saw the Bitcoin price remain fairly stable over the past trading week. Still, the crypto market could not really benefit from a significant drop in producer prices in Germany. What can we expect this trading week?
Last week was dominated by the collapse of crypto exchange FTX, which collapsed because of liquidity problems. FTT's price fell over 93% and Bitcoin also reached its low of the year. Will the crypto market recover? You should keep an eye on these developments:
Despite another 0.75% interest rate hike by the US Federal Reserve, causing US stock indices to fall sharply in price, the cryptocurrency Bitcoin (BTC) once again managed to defend the psychological price barrier of $20,000 and even rose to a high of $21,478 per BTC. What developments are important for the crypto market this week?
The price of BTC is up over 7% from a week ago. The ongoing correction of the US dollar index DXY provided a positive price development for the crypto sector. Elon Musk's acquisition of Twitter resulted in a sharp rise in Dogecoin's share price. The coin managed to rise 150% in five days. This is important for crypto this week.
