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The crypto market dropped in May, but June has a silver lining

Cryptocurrency Jun 05, 2022 03:00PM ET
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The crypto market dropped in May, but June has a silver lining

May 2022 was not for the faint-hearted. Even the most embattled and experienced crypto traders were tested in the first two weeks of the month on a brutal drop following the United States Federal Reserve’s announcement that interest rates would be rising by 0.5%.

Crypto used to exhibit a lower correlation with real-world events and was generally unaffected by capitalistic successes and failures. However, a very steady approximate peg between Bitcoin (BTC) and the S&P 500 index was seen throughout the first five months of 2022. Inflation and war fears have not been kind to both markets either.

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The crypto market dropped in May, but June has a silver lining
 

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