Crypto wrap: Central banks' commentary on inflation keeping market weak

Cryptocurrency news: Both Bitcoin and Ethereum have been trading below crucial support levels

Following no clarity on the FTX fiasco and hawkish commentary from the central banks across the globe, the cryptocurrency market has remained weak in the last one week with total valuation slipping below $820 billion. As of Friday, the total market-cap was $813 billion as compared to $826 billion last week. Bitcoin and Ethereum, the largest digital tokens by market cap, are trading below their important levels, experts told Business Standard.

"Bitcoin experienced a dip after experiencing bullish momentum following the Federal Open Market Committee's (FOMC) meeting last week, but it has since recovered and is currently trading above the