Why have Bitcoin and crypto lost 60% of their market cap since their all-time highs?
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity.
The latest Macro Markets show begins by exploring why the crypto market capitalization is some 60% below its all-time high, while the S&P 500 is less than 15% away from its peak.
For Pechman, the sector is suffering from a huge problem, as it doesn’t fit a commodity nor does it fit a foreign exchange currency.
Moreover, not every mutual fund can hold crypto.The lesson? If Bitcoin (BTC) and Ether (ETH) are mostly understood as alternative risk assets, that’s how they’ll trade.
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