Crypto Slump Continues - Bitcoin, Ethereum Down Over 5% as Dollar Strengthens and Demand Cools

• Bitcoin, Ethereum, and Dogecoin declined 4.5%, 5.1%, and 7% respectively over the past 24 hours

• Concerns around cooling demand for Bitcoin spot ETFs and a strengthening dollar are weighing on prices

• Lower rate cut bets are negatively impacting Bitcoin and Ethereum as stores of value

• Dogecoin hit a 2-year high this week, so its decline relates more to its speculative, volatile nature

• It's unclear if this signals an end to the crypto rally in 2022, but macro data and ETF inflows are worth monitoring