Cryptocurrency investors this week are widely watching Bitcoin (BTC), with the largest digital asset by market capitalization currently trading at around $27,350. A surge past the $27,000 mark came despite dipping as low as $25,800 late on Friday, with the boost possibly due to upcoming debt ceiling talks which could determine if cryptocurrency, despite of prevailing regulatory uncertainty, has the capacity to be utilized as a safe-haven. Additionally, Ether (ETH) and other digital assets have been on the rise, with token LDO growing 11% while The Graph's GRT jumped 12%.

The low liquidity of late in crypto markets has also been on investors' minds, with renowned market makers Jane Street and Jump Crypto retreating from the US trade due to an undefined regulatory environment. A Kaiko report indicated a 4% monthly dip in Bitcoin's 1% market depth, and an even larger 17% for alternative coins.

Global markets, in the meantime, have largely been turning green, with the S&P 500, Nasdaq and Dow Jones Industrial Average all coming away with gains, accompanied by a minor change in American 2-year Treasury yield but a noticeable 3-basis-point rise in the 10-year note. The events of the week will tell much with regards to recession predictions, primarily focussing on housing and retail sales readings to gauge market response and action. NYDIG's global research head Greg Cipolaro thinks that given the current correction of risk assets, any existing recession check shouldn't be too severe in regards to market assets.



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