Cryptos Rally off Equity Markets and Institutional Interest

The Crypto market rose on Monday as new macro factors and institutional interest weighed in. Cryptos Recover from Selloff Following last week’s sell-off, Bitcoin and the broader crypto market rallied alongside the US equity markets. Bitcoin (BTC) retraced back up to $49,000, with Ethereum (ETH) recovering to $1,500. The biggest crypto names all recovered to varying degrees, except for Cardano (ADA) which saw a small dip to $1.24 earlier today. In the equity markets, the Dow soared 603 points and NASDAQ 496 points respectively, as treasury yields cooled and the Congress revealed that the stimulus package was well on its way. The stimulus package may also turn out to be a significant boon to the Bitcoin rally. The $1,400 direct payments to all eligible Americans will likely find its way to the crypto markets. Historically speaking, this has been the case. When the past two stimulus checks were passed by…

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