Articles by Myrsini Giannouli

The cryptocurrency market has been under pressure for the past few weeks, as Central Banks turn to a more hawkish monetary policy and stocks go down.

Tuesday was a tough day for most major cryptos, as rising US yields and USD price put pressure on the cryptocurrency market.

On Tuesday, Brent crude rose to $88.2 per barrel, the highest price in seven years, as limited supply cannot keep up with rising demand and some analysts predict that it will rise above $100 per barrel this year.

On Tuesday, the dollar index rose to 95.83 from a low of almost one week.

The USD was supported on Tuesday by rising real yields, with 2-year and 10-year yields hitting a 2-year high.

There was little volatility in BTC price over the weekend, which traded sideways, testing the resistance at $43,000.

WTI managed to hold on to last week’s gains, although there was little fluctuation in its price on Monday.

Gold registered limited gains last week, climbing to $1,820 per ounce by the end of the week, from approximately $1,795 per ounce at the start of the week.

Last week saw a decline in USD price following Fed Chair Jerome Powell’s testimony before the Senate Banking committee on the subject of his renomination as the head of Fed.