Nexo: Cryptocurrencies Hold Within 1% Range as Inflation Forecasts Increase
Major cryptocurrencies moved less than 1% in the past 24 hours, with bitcoin near $50,000 and ethereum around $3,000, Nexo finds. Firm warns rising US inflation forecasts above 4% and escalating Eastern Europe tensions could trigger increased volatility.
1. Short-term Stability
Over the last 24 hours, Nexo data shows major cryptocurrencies fluctuated under 1% with bitcoin trading near $50,000 and ethereum around $3,000, reflecting muted market reactions to recent economic indicators. Investors adopted a cautious stance as bond yields edged higher, but crypto maintained a narrow trading range.
2. Inflation and Geopolitical Risks
Nexo highlights that if US inflation forecasts exceed 4%, heightened volatility may ensue, potentially driving wider price swings across digital assets. Ongoing geopolitical tensions in Eastern Europe add downside pressure, as any escalation could trigger risk-off flows and disrupt crypto markets.