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Cryptocurrency Market Faces Bear Trend Despite Resilient Ascending Trend

Explore the latest trends in the cryptocurrency market, including the bear trend, market capitalization decline, and the impact of the FOMC meeting.
Published on 2022-09-22

Cryptocurrency Market Trends

The cryptocurrency market has been experiencing a bear trend since mid-August, unable to surpass the $1.2 trillion market capitalization resistance. Despite a significant 25% correction, the three-month ascending trend remains intact, showcasing resilience.

Market Capitalization Decline

In the week leading up to September 21, the total crypto market cap dropped by 7.2% to $920 billion. This decline occurred as investors adopted a cautious approach ahead of the Federal Open Market Committee (FOMC) meeting, which resulted in a 0.75% interest rate hike.

Impact of FOMC Meeting

The FOMC's decision to increase interest rates by 0.75% influenced investor behavior, prompting a shift towards safer assets. This move underscored the broader economic climate's impact on cryptocurrency markets.

Stablecoin Performance

Tether (USDT) showed notable peer-to-peer activity against the USD/CNY pair, reflecting its role in the market. This highlights the importance of stablecoins in navigating crypto market volatility.

Perpetual Futures Funding Rate

As of September 21, the accumulated perpetual futures funding rate indicated ongoing market dynamics, providing insights into investor sentiment and leverage in the derivatives market.

The cryptocurrency market's current state reflects a complex interplay of economic factors and investor sentiment, with key indicators offering a glimpse into future trends.

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