Crypto prices have returned to familiar territory on Tuesday, headed lower as risk markets across the globe are in rally mode.
Trading at $62,500, bitcoin (BTC) is down 1% over the past 24 hours and lower by nearly 3% from Monday's high.
Shortly before the U.S. market open, Nasdaq 100 futures are higher by 0.9%, tacking on to yesterday's 1.5% gain. WTI crude oil is down 2.15% to $89.34 per barrel as investors continue to price in what might be the end of the Iran conflict.
Possibly dragging on bitcoin on Tuesday was a $36 million exploit of the Humanity Protocol and its H token. Bitcoin maxis, however, might say the opposite — that the Humanity attack (and numerous other incidents against other chains in recent weeks) shows why "there is no second best."
There isn't much expected in the way of macro news on Tuesday, but May U.S. inflation data is on tap for the U.S. on Wednesday. With interest rate traders now convinced the next Fed move will be a rate hike, a downside surprise could make things interesting.
