Fed policy and crumbling market sentiment could send the total crypto market cap back under $1T

Fed policy and crumbling market sentiment could send the total crypto market cap back under $1T


The total crypto market capitalization broke above $1 trillion on July 18 after an agonizing thirty-five-day stint below the key psychological level. Over the next seven days, Bitcoin (BTC) traded flat near $22,400 and Ether (ETH) faced a 0.5% correction to $1,560.

Total crypto market cap, USD billion. Source: TradingView

The total crypto capitalization closed July 24 at $1.03 trillion, a modest 0.5% negative seven-day movement. The apparent stability is biased toward the flat performance of BTC and Ether and the $150 billion value of stablecoins. The broader data hides the fact that seven out of the top-80 coins dropped 9% or more in the period.

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Even though the chart shows support at the $1 trillion level, it will take some time until investors regain confidence to invest

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