Crypto Licking Its Wounds After Binance Hack Selloff — Market Talk
The crypto market has been climbing since Friday but hasn't yet recouped the losses sustained following the Binance heist, FxPro's Alex Kuptsikevich says in a note. The recovery was likely tied to a slight increase in risk appetite over the weekend thanks to a weaker dollar and oil prices, along with attempts for a rebound in equities, the analyst says. Bitcoin remains on a downtrend after falling 7.5% over the course of October, with outflows from ETFs and hacks weighing on overall sentiment, Kuptsikevich says. Bitcoin is down 1% at $77,102. ([email protected])