In a recent blog post, ETC Group’s Head of Research, Andre Dragosh, provided a comprehensive analysis of the current state of the crypto market. Dragosh’s findings shed light on the market’s performance dynamics, profit-taking activity, and derivative trends.
High-Risk Appetite In Crypto Market
According to Dragosh’s analysis, crypto assets showcased their resilience as they outperformed traditional assets like equities, supported by a significant repricing in monetary policy expectations and short futures liquidations at the beginning of last week.
However, this outperformance encountered some limitations in the short term due to stronger-than-expected US jobs data, which began to dampen the recent rally. The US non-farm payroll growth and unemployment rate surpassed consensus estimates, leading to a reversal in US Treasury yields and a decrease in overall risk appetite across traditional financial markets.
Notably, altcoin outperformance gained momentum during the period, w
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