Crypto market experts have flagged the increasing strength of the U.S. Dollar as a limiting factor in digital assets in the wake of plunging sentiments. A new report from QCP Markets shows the impact of crypto prices as the dollar gains momentum.
“The US Dollar is inching higher again, placing a cap on risk assets including crypto. The Swedish Riksbank cut interest rates from 4.00% to 3.75%. This follows the Swiss National Bank (SNB) which cut earlier in March and the ECB is also expected to cut in June.”
According to the report, inflation and macroeconomic factors may make other Central Banks wait for the Federal Reserve to cut rates before a follow-up. Another reason posted was the divergence between the US and other countries.
Macroeconomic Factors To Affect Crypto Prices
Per the report, certain factors will affect an uphill market run as crypto prices drop in recent weeks. Institutional investors and big banks continue to speculate two rate cuts this year with the first
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