Crypto Markets Hold Steady as Stocks Drop, Oil Spikes

Crypto markets held their ground on Thursday while U.S. stocks dropped and oil rallied.

Bitcoin (BTC) is trading at around $70,200, unchanged over the past 24 hours. Meanwhile, ETH is also flat at $2,070, and SOL is down 1% to $86.

The overall crypto market capitalization slipped 0.2% to $2.48 trillion, according to Coingecko.

Crude oil (WTI) is inching back towards $100 per barrel despite yesterday’s pledge from the International Energy Agency (IEA) to release 400 million barrels from emergency stockpiles.

The S&P 500 and the Nasdaq dropped 1.5% and 1.8%, respectively, amid concerns about a downturn in private credit after Morgan Stanley became the latest fund manager to limit redemptions.

Most of the Top 100 digital assets posted minor losses over the last 24 hours.

Today’s top gainers are Pi Network (PI), which rallied 14%, followed by RENDER, which climbed 10%.

Canton (CC) and Zcash (ZEC) are the biggest losers

Around 67,000 leveraged traders were liquidated for $156 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $54 million, while ETH positions made up $42 million.

Bitcoin exchange-traded funds (ETFs) recorded inflows of $115 million on Wednesday, marking a third straight day of gains.