Crypto Market Navigates Volatility Amid Global Macroeconomic Shifts

Written by BTSE

May 15, 2023

Crypto Market Analysis

Trending Tokens on BTSE:

(as of  2:45 AM UTC, May 15, 2023) 


The cryptocurrency market has recently witnessed turbulent waters, with Bitcoin making a slight recovery after a week of descending prices. While it has managed to claw back up to around $27,180, Bitcoin remains down by more than 10% since the start of May, primarily due to profit-taking and low liquidity amidst industry and macroeconomic uncertainties.

In the midst of these shifts, Ethereum has maintained a steady position near $1,800. However, it’s not all gloom in the crypto-verse, as several major cryptocurrencies have registered growth with the onset of the trading week in Asia. Most notably, the Stablecoin Supply Ratio (SSR), a key indicator of the buying power of stablecoins, has seen an 11-day decline. This dip could signal an uptick in purchasing power for stablecoins, potentially driving up Bitcoin prices.

Simultaneously, traditional asset markets are displaying a mixed bag of results. While the tech-laden Nasdaq Composite registered slight gains over the past week, the S&P 500 and Dow Jones Industrial Average experienced declines. Interestingly, the correlation between cryptocurrencies and traditional markets seems to be on a downward trend, a sign of the diverging trajectories these markets may be taking.

Looking ahead, the global macroeconomic situation appears to be setting a conducive stage for cryptocurrencies to flourish. With Bitcoin’s price expected to stabilize between $25,000 and $27,000 in the short term, a major rally may be on the horizon. This potential surge in the market suggests that an immediate catalyst for growth is not necessary — it’s only a matter of time before cryptocurrencies can once again capture the spotlight.


Trade Bitcoin on BTSE here.

Join our Telegram news channel here.


Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at or on Twitter @BTSE_Official.

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

Related Articles

Stay Informed with BTSE

Join Our Newsletter

Never miss a beat with the latest updates and industry insights from BTSE.

Follow Us

Join our rapidly growing community and exclusive events!