Independent ReserveMarket update
BTC A$29K. Over 13 million ETH staked in the 2.0 contract
Although crypto has been dealing with its own issues, macro factors appear to be having the biggest impact. The White House expects this week’s June CPI figures to be "highly elevated" and analysts are tipping 8.8%. The Euro has also fallen to parity with the US dollar for the first time in 20 years. Noelle Acheson, head of market insights at Genesis Global Trading said: "This could negatively impact the price of Bitcoin in dollar terms, which for the past couple of years has been negatively correlated with the dollar index." Bitcoin traded as high as A$32.5K (US$22.1K) this week but is currently around A$29,485 (US$19.8K) which is pretty much where it was seven days ago. Ethereum fell 8.6% to A$1,620 (US$1.1K), XRP lost 6.2%, Cardano (-8.9%) and Polkadot (-10.8%). The Crypto Fear & Greed Index is at 16, or Extreme Fear.