On Monday, the pressure on cryptocurrencies continued, taking another 1.3% off bitcoin to 38.9k, sending it to test March lows.
Total crypto market capitalisation, according to CoinMarketCap, changed little over the week, remaining at 1.8 trillion, as a wave of buying in the first half of the week turned into a strong sell-off in the second.
Crypto Fear and Greed Index rose from 24 to 27 and returned to its starting point during the week.
Changpeng Zhao, the Binance’s chief executive, said the adoption of cryptocurrencies would rise as geopolitical tensions escalate and the use of the dollar as a sanctions tool grows.
A group of US congressmen have spoken out against mining cryptocurrencies using the environmentally damaging Proof-of-Work consensus algorithm.