The dollar lost ground against the euro and pound this week, even as the crypto market cap shrank 2.8%. The divergence underscores the contrasting fortunes of traditional currencies and digital assets.
FX: The USD/EUR rate climbed 0.651%, reaching 0.89087, while the USD/GBP pair edged up 0.249% to 0.75753. The yen, however, bucked the trend, with USD/JPY slipping 0.196% to 157.67. The euro’s gain was the standout mover, outpacing the pound and yen.
Crypto: Bitcoin’s dominance held firm at 59.2%, while Ethereum’s share stood at 11.4%. Bitcoin’s price rose 1% to 85749 USD, but Ethereum lagged, gaining just 0.38% to 2704.89 USD. The total crypto market cap’s decline was driven by broader market sentiment, with Bitcoin’s resilience the sole bright spot.
Next week, watch for any shifts in Bitcoin dominance and the euro’s momentum against the dollar.
This content is informational and does not constitute financial advice.
