Cryptocurrency prices largely recovered over the past week, with the flagship cryptocurrency Bitcoin ($BTC) moving up 3.5% to get close to the $31,000 mark at the time of writing. Meanwhile, gold moved up .017% while the S&P 500 gained 4.45% in a relief rally.
Year-to-date, Bitcoin is the worst-performing of all three, being down nearly 36%. The S&P 500 index has lost 13% of its value so far this year, while the precious metal moved up over 3.1%, A plethora of factors, including the war in Ukraine and rising inflation, have driven investors away from risk assets like cryptoassets and equities, and into safer assets like gold.
The cryptocurrency space’s market capitalization is still at around $1.25 trillion. It’s significantly down from its all-time high around the $3 trillion mark.