Most other top crypto currencies, while recording marginal gains during the last 24 hours, logged losses for the week

Bitcoin traded flat below $26,300 Tuesday morning. Ether also rose marginally but stayed below the $1,600 level. Most other top crypto currencies, while recording marginal gains during the last 24 hours, logged losses for the week. Cardano’s ADA led the winners. Cryptos, along with global equities, face pressure from interest rate hike concerns and increasing treasury yields. U.S. stock futures were flat during early morning trading in Asia after Wall Street finished higher on Monday. That rise broke a four-day losing streak caused by hawkishness from the U.S. Fed.

Bitcoin was little changed, trading at $26,276.60 for a weekly loss of 1.78%, as per CoinMarketCap data. The world’s biggest crypto currency declined to $26,011.47 on Monday evening, the lowest price since September 13.

Ether also stayed flat. It rose 0.35% to $1,586.87 but is 3.06% lower for the past seven days. The token hit a high of $1,595.84 on early Tuesday morning, but failed to move past the $1,600 resistance level.

Crypto currency market sentiment remains weak, amid declines in global stock markets, a resilient dollar and increasing yields putting pressure on risk assets, stated Hani Abuagla, senior market analyst at online trading broker XTB MENA.

The economic policies enacted by central banks, especially the Fed, have redirected capital towards less risky investments like government bonds, stated Matteo Greco, research analyst at Canada-based digital asset investment firm Fineqia International.

These bonds currently offer an attractive risk/reward ratio, offering a passive income while reducing portfolio risk, he said.

Most other top crypto currencies posted gains for the past 24 hours. Cardano’s ADA led the winners. The token added 1.10% to $0.2453 but shed 2.49% for the week.

Toncoin was the only leading non-stablecoin token to record a 24-hour loss. It shed 1.83% to $2.16 for a weekly loss of 10.28%.