Why is Crypto Up or Down?

Crypto is down (-1.4%) β€” Top: MKR -6.8%

Crypto markets traded modestly lower on average (-1.08%) as risk appetite softened, with macro-sensitive narratives weighing after reports that BlackRock warned restrictions on data-center expansion could raise recession risks, reinforcing a more cautious tone across growth assets. Losses were concentrated in higher-beta alts such as Maker (-6.78%) and Injective (-5.43%), suggesting traders faded recent sector-specific momentum despite Injective-related partnership headlines, while regulatory progress like Sberbank receiving approval to trade bitcoin did little to offset broader de-risking. Separate signs of elevated leverage, including reporting on a surge in USDT borrowing tied to β€œaltseason” positioning, likely amplified intraday swings as positions were trimmed into weakness.

45 moves Β· 20 sources Β· Last 24h Β· 15 up / 30 down

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