GBTC Rallying, ZRX Shows Technical Strength
Jul 5, 2023
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Market Update The crypto market is experiencing a post-Independence Day dip, with $BTC and $ETH retesting levels of $30,000 and $1,900, respectively. Most popular altcoins are also trending lower, exhibiting a 2-3% decrease compared to 24 hours prior. This downward slide can be attributed to a combination of macro and idiosyncratic factors. The DXY is trading higher, bolstered by disappointing economic data emanating from China and today's rally in long-term rates. Concurrently, major equity indices are also experiencing a dip as traders remain on standby for the release of the Federal Open M