Crypto watch: Winter in the market is not over yet, argue experts

As the cryptocurrency market cap crossed $1.1 trillion mark on Friday and Bitcoin rose above $24,000, experts said that 'we are not there yet'

Cryptocurrency market capitalisation, in the week ending July 29, stayed above $1 trillion even as the US Federal Reserve (Fed) hiked its key interest rate by 75 basis points on July 27. Bitcoin has rallied over 10 per cent since Wednesday and Ethereum has jumped over 15 per cent. However, experts say the crypto market's crisis is not over.

"This should not be considered as Crypto winter is over. We are not there yet. Crypto is not immune to global factors or economies of the world," Dileep Seinberg, Founder & CEO, MuffinPay, said.

"This can be considered as