Crypto wrap: High fluctuation in market due to US debt ceiling crisis

The cryptocurrency market saw significant fluctuations last week owing to macroeconomic uncertainty and the US debt ceiling crisis. In the last seven days, Bitcoin has gained 1.73 per cent but it saw a low of $26,016 as well as a high of $27,624 during the week. On Friday, it was trading at $26,813.29, according to data from coinmarketcap.

The total market cap touched $1.09 trillion on May 13 but rose to $1.14 trillion on May 15. On Friday, it was $1.12 trillion.

“The week began with Bitcoin trading at around $27,000, as uncertainties within the industry and macroeconomic factors weighed on investor sentiment.