Macro Factors Like Interest Rates Are Moving Crypto Markets — CoinDesk

For the previous 9 months, total macro circumstances have taken a again seat to the idiosyncratic failures (FTX, Terra’s LUNA/UST, BlockFi, CoinDesk sister firm Genesis) and success tales (the Ethereum Merge, numerous layer 2 launches) that drove a lot of the worth motion. However macro regained its place behind the wheel over the previous few weeks. The banking disaster and subsequent coverage response have taken middle stage – solely this time it’s affecting digital belongings positively on the expense of different asset courses. A fast take a look at the bitcoin (BTC) worth versus the regional banking exchange-traded fund (KRE) tells you all you must know concerning the winners and losers because the first week of March.