Mpox (formerly known as monkeypox) has emerged as a global health concern, but unlike Covid-19, the likelihood of a pandemic is seen as lower due to its lower transmission rate and the availability of effective vaccines. However, if the outbreak were to escalate, it could cause economic instability similar to what was experienced during the Covid-19 pandemic, particularly in countries with limited healthcare infrastructure.

On the macroeconomic front, a global Mpox outbreak could generate uncertainty, affecting supply chains and increasing healthcare costs, which would pressure governments to adopt economic stimulus measures. These events could contribute to inflation and slow economic growth, impacting sensitive sectors like tourism and transportation.

Regarding the cryptocurrency market, a new global health crisis could trigger both volatility and opportunities. During crises, cryptocurrencies are seen by some investors as safe-haven assets, potentially driving up prices temporarily. However, prolonged uncertainty could bring instability, devaluing cryptocurrencies and exacerbating the already high market fluctuations.

Ultimately, the market's reaction will largely depend on the severity and global response to Mpox, but the impact could be significant, even if not to the level of Covid-19.