BTC rose by 0.05%, LUNA up 0.95%

Published On: April 25, 2022Categories: Alternative Investments1.4 min read

It was a mixed Sunday session for the broader crypto market

On Sunday, Bitcoin (BTC) rose by 0.05%. Following a 0.68% decline from Saturday, Bitcoin ended the week down 0.56% to $39,466.

Last week, Bitcoin came under renewed selling pressure with market sentiment towards inflation and Fed monetary policy testing support for riskier assets.

It was a mixed Sunday session for the broader crypto market.

LUNA joined Bitcoin in positive territory, rising by 0.95%. It was a bearish session for the rest of the majors, however.

AVAX and SOL declined by 1.84% and 1.41%, respectively.

ADA (-0.11%), BNB (-0.52%), ETH (-0.39%), and XRP (-0.93%) saw relatively modest losses.

The Fear & Greed Index stood at 23/100. Despite Bitcoin’s brief return to $42,900 last week, the Index has remained within the ‘Extreme Fear’ and ‘Fear’ zones since April 07.

The ‘Fear’ and ‘Extreme Fear’ zones reflect investor expectations of further price deterioration.

For the Bitcoin bulls, the Index will need to move back through to 46/100 to bring April’s high of $47,433 into play.

Across the global financial markets, the NASDAQ 100 mini was down 102.25 points this morning, with the Dow mini sliding by 267 points.

Last week, the NASDAQ 100 slid by 3.83%, with a 2.55% tumble on Friday doing the damage.

Earnings and Fed policy sank the US majors in the week, which spilled over to the crypto market. From the top 10 cryptos, LUNA bucked the market trend, rising by 16.8%.

This week, sentiment toward Fed monetary policy will continue to leave the crypto market under pressure.

News updates on China’s latest COVID-19 lockdown measures and the war in Ukraine are the key drivers as the global financial markets fret over supply chain disruption.

On the economic calendar, there are several key US stats to consider. On Tuesday, consumer confidence figures and Q1 GDP numbers on Thursday will draw attention ahead of inflation numbers on Friday.

About the Author: Jonathan Adams

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