The crypto market remains in the red while Bitcoin continues to show an increased correlation to S&P 500.
Bitcoin (BTC) is at its weekly lows again, owing to the uncertainty ahead of the Fed’s interest rate data release. BTC has been shedding its gains ever since it got rejected at $25k resistance. Ethereum (ETH) is continuing its downtrend for the fourth consecutive day now while trading at $1,850, showing signs of the Merge mania fading.
On the altcoin front, Eosio (EOS) has recorded a 20% jump, the highest in 15 months. In another shocker of an event, Houbi stablecoin (HUSD) has de-pegged from the dollar and was trading at $0.93, down by 5.6% in the last 24 hours. Most of the altcoins remain in the red, while the total crypto market cap stands at $1.12T.