Plunging oil price presents an unexpected risk to the crypto market in AprilBTC $6358 (-1.8%) • ETH $133 (+0.1%) • XRP $0.17 (+0.8%)
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The oil price is plummeting rapidly, dropping to as low as $5 in Canada. The dumping of additional supply by Saudi Arabia and Russia is expected to rattle the oil market further in April, which may cause high-risk assets including stocks and crypto to drop off. Over the next several weeks, JPMorgan expects oil-rich sovereign wealth funds to vamp up their cash-buffer as the dispute between Saudi Arabia and Russia intensifies. A large sell-off of stocks at a time during which the U.S. stock market has just started to recover from recent lows could fuel the next leg down of equities. More news ⏬What’s really going on with Tether’s exploding supply? Crypto exec tells all
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Bitcoin’s price action seen throughout the past several days has been rather lackluster, with the benchmark cryptocurrency seeing some choppy trading that has led it to establish a wide range between $5,800 and $6,800. What else?🤔 What’s holding Bitcoin back – business or consumers? 🤑 Wall Street giant chief fears end of “debt super cycle”: Is crypto the solution? 🌊 This on-chain indicator may spell trouble for the 88% of Ethereum investors who are underwater Featured event
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Plunging oil price presents an unexpected risk to the crypto market in April