After a week of turmoil, the cryptocurrency market has gradually stabilized, and the stablecoin market has also begun to fluctuate

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HONG KONG/LONDON/NEW YORK, May 13 (Reuters) – Cryptocurrencies stabilized on Friday after a tumultuous week dominated by the collapse in value of the so-called stablecoin TerraUSD, with Bitcoin rebounding from a 16-month low.

Cryptocurrencies had been caught up in a broader selloff of risk assets due to concerns over high inflation and rising interest rates, but signs of stabilization have begun to emerge.

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Juan Perez, director of trading at Monex USA in Washington, said that although the short-term movements in the crypto market are difficult to predict, the worst may be over.