Crypto market cap falls as macro pressures mount and Bitcoin dominance rises

  • Crypto markets declined as U.S. inflation, ECB policy and higher oil prices weighed on risk assets.
  • Reported market snapshots put total capitalization at $2.67 trillion to $2.71 trillion, with Bitcoin prices ranging from $76,886 to $77,285.98.
  • Bitcoin held up better than major altcoins, while BCH, UNI, DOGE, Zcash and HYPE recorded sharper losses.

Crypto markets sold off as hotter U.S. producer inflation, a European Central Bank rate increase and rising oil prices pressured risk assets. A newer update put total crypto market capitalization at $2.71 trillion, down 3.0%, while an earlier update reported a 4.3% decline to $2.67 trillion and Bitcoin dominance at 58.6%. Bitcoin traded between $76,886 and $77,285.98 across the reported snapshots, outperforming Ethereum and several altcoins as investors assessed the macroeconomic outlook.

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