Top Crypto Gainers Today 17 April – Casper, Injective Protocol, Rocket Pool
The cryptocurrency market is currently facing a challenge as it tries to hold on to the momentum it gained after reaching key price milestones last week.
Bitcoin and other cryptocurrencies have experienced a decline so far today, leaving the market anticipating its next major development.
Amidst the recent market turmoil, what are the top crypto gainers today?
Over the last 24 hours, Bitcoin has experienced a decline of 2.76% and slipped down to $29,494, breaking the significant $30,000 level that it had surpassed just last week for the first time in nearly a year.
Despite recently trading as high as $31,000 and climbing over 80% this year, Bitcoin has had difficulty solidifying these gains.
Cryptocurrencies are expected to remain influenced by the macroeconomic environment and fluctuations in the Dow Jones Industrial Average and S&P 500.
The 2023 crypto rally has been fueled by expectations that the Federal Reserve will adopt a more lenient monetary policy, which has also supported the stock market.
In an effort to control the highest inflation in decades, the Fed enacted a series of aggressive interest rate increases over the past year, affecting both cryptocurrencies and stocks, as higher rates reduce demand for risk-sensitive assets.
However, indications of cooling inflation and the negative effects of higher rates on various economic sectors, including the banking industry, have led traders to reconsider the Fed's tightening of financial conditions.
Upcoming economic indicators, such as the weekly jobless claims on Thursday and Friday's services and manufacturing Purchasing Managers' Indexes (PMIs), will be released.
This may impact Bitcoin together with the financial markets as a whole, leading to the current hesitation
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