Yesterday’s trading showed a broad-based retreat from Crypto. Many analysts see this as part of a growing tendency on the part of digital coins to track the stock market, which has also shown declines in recent sessions.
Over the past week, Cryptocurrencies and related firm Coinbase have lost significant chunks of their value. The risk-averse mood observed across the U.S. economy may be disproportionately affecting the digital coin sphere.
The biotechnology and ridesharing industries have had divergent fortunes over the course of the COVID-19 pandemic. With Pfizer, Moderna, and Uber set to release Q1 2022 results in the coming days, it remains to be seen whether these trends will continue.