Cryptocurrency Market Shakes As Market Cap Falls Below $ 2.2 Million | Cryptocurrency

While the cryptocurrency market is known for its volatility and potential price spikes, the correction over the weekend appeared to shake confidence in the market as a whole. Prices came under increasing pressure following the announcement of the new Omicron variant and the reaction seen in the equity markets, as many of them fell back below previous support levels. Today, the situation looks quite uncertain as BTC is trading around $ 47,000 and investors focus on the headlines to determine the seriousness of the deal. One thing to note is that while prices are down in all areas, a look at the ETH / BTC chart indicates that a significant chunk of money has been invested in Ethereum rather than the mainstream crypto, and we have in fact seen BTC’s dominance drop to an all-time low in several months. While this may signal the beginning of a new cycle in the cryptocurrency market, it is still unclear how investors will react to future price movements in this already confusing environment.

UK construction PMI and car sales point to improving conditions

Today’s construction data from IHS showed the fastest increase in construction production in four months, driven in part by a robust and accelerating increase in commercial work, as well as a drop in the number of companies reporting delays in the suppliers and a decrease in inflation in the costs of inputs to seven months. low. . While these are all positive signs for the economy, the Bank of England continues to push to keep monetary and fiscal policy in check and to facilitate the continuation of the post-pandemic recovery despite potential unexpected events.

Today’s car registration figures paint a slightly different picture of the UK economy today, with figures showing an increase of around 1.7% per month and a return to the level seen last November. However, as inflationary pressures continue and uncertainty about the new variant increases, we could see an impact in various sectors of the economy, including car sales and registrations, as consumers worry.

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