Bitcoin and Ethereum remain stuck in a range with no clear direction during today’s trading session. The crypto market’s uncertainty has been smashing on long and short positions, but one sector is blooming under current conditions. Related Reading: Enjin (ENJ) Among Top 10 Crypto Choice Of ETH Whales In Last 24 Hours At the time of writing, Bitcoin trades at $19,360 with sideways movement across the board. Ethereum is displaying similar price action in this choppy environment, with most cryptocurrencies in the top 10 at a loss or lateral movement. 2022 Crushes Bitcoin And Global Markets According to a report from the trading desk QCP Capital, this year has been the worst performing for investors with a cross-asset portfolio. If an investor-owned Bitcoin, stocks, and gold as part of their strategy, their capital would be in the red. As seen in the chart below, the only assets recording gains are those in the energy sector, with crude oil and natural gas taking the lead. The former recorded the best performance in 2022 with a positive 34%, followed by a 4% in crude oil (WTI). The crypto market has been the biggest loser under current macroeconomic conditions. Bitcoin and Ethereum recorded 66% and 72% losses, respectively. In traditional markets, only the Nasdaq 100 records a similar drawdown of 40%. QCP Capital wrote: Outside of energy, the breadth and correlation of underperformance is stunning – every single macro financial b...
