FxPro: The crypto market is poised to retest its highs
Market Overview
The crypto market continues to show low volatility, with little change from the previous day's levels. At the $2.87T level, cryptocurrencies are cautiously forming a rebound from last week's lows near $2.83T. However, as long as the market remains below $2.90T, it is technically in a short-term downtrend. The strengthening US dollar and uncertainty in the equity markets are adding to the unease. On the other hand, the crypto market has often been the first to react to shifts in sentiment, so it cannot be ruled out that this will be followed by an improvement in risk appetite in traditional markets within a day or two.
