Summary
The CoinDesk 20 Index has surpassed the 1,700 level as digital asset prices rallied. Bitcoin and ether Trend Indicators are showing a “Significant Uptrend” after a period of being “Neutral” and “Uptrend”. Over $700 million flowed into crypto-linked products last week. There is a rotation happening between legacy Grayscale products and newer and cheaper iShares and Fidelity ETFs. The recent increase in US interest rates has boosted the US dollar, but its rise is stalling as the Fed’s hawkish rhetoric subsides.
Key Points
1. The CoinDesk 20 Index has surpassed the 1,700 level, indicating stronger price trends across smart contracts in the market.
2. Both bitcoin and ether Trend Indicators are showing a “Significant Uptrend” after being in a “Neutral” and “Uptrend” value for a short period.
3. Over $700 million has flowed into crypto-linked products last week, with a focus on bitcoin linked products.