After a massive stock market and crypto market selloff on Monday, August 5, the broader crypto market has recovered to a good extent with the Bitcoin price recovering 10% from its Monday bottom and surging past $55,400 as of press time. The altcoins have staged an even stronger recovery with more than 5-10% gains.
After crashing more than 13% yesterday, Japan’s Nikkei 225 Index has recovered more than 11% in today’s trading session. This was due to a strong recovery in the US futures market after key macroeconomic data, offering hope amid the market gloom.
Japanese equity market bounced back strongly on Tuesday, with the top two indices – Nikkei and Topix – gaining 12% each today. The bounce back in the US futures market prevented another freefall in the Japanese market as well as the crypto market. Tomo Kinoshita, a global market strategist at Invesco Asset Management in Tokyo, said:
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