NFT Market Stagnates; Stanford University to Develop Privacy-Focused Blockchain
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Chart of the Day
After experiencing a brief decoupling earlier last week, the broader crypto market and major U.S. stock indices seem to be moving in tandem again. The crypto market has been falling for a third day straight amid fears that rising energy costs would cripple the global economy. As of the time of writing, BTC is trading below the $38.5k resistance zone and the 100-hourly moving average after suffering some minor losses over the past 24 hours. A bearish descending triangle, with its upper bound near the $39k level, has begun to take shape on BTC's hourly chart, suggesting that the largest cryptocurrency by market cap may very well dip below past support levels again if it fails to clear said $39k level.