Bitcoin Price Drop and Expectations in the Crypto Currency Market

Bitcoin fell from its peak of $71,769 to $68,940. This decrease occurred despite the net inflows of cryptocurrencies into the ETFs and affected the optimism of investors about the rise in altcoins. Recent Developments in the Crypto Market While the price of Bitcoin quickly rose from $63,800 to $71,000, this led to the liquidation of short positions. However, the outcome of the Coinbase case could negatively impact the operation of exchanges. The ban on staking services in the US may also affect altcoins based on the Proof of Stake (PoS) mechanism such as Ethereum. The inclination of the SEC to classify altcoins as securities contributed to the downturn in the markets. The letter of the US House of Representatives to the SEC continues to perpetuate the uncertainty in the market. Market Dynamics and Expert Opinions Experts predict that the decrease in appetite for risk markets may be due to the […]

Bitcoin Price Drop and Expectations in the Crypto Currency Market

Bitcoin fell from its peak of $71,769 to $68,940. This decrease occurred despite the net inflows of cryptocurrencies into the ETFs and affected the optimism of investors about the rise in altcoins.

Recent Developments in the Crypto Market

While the price of Bitcoin quickly rose from $63,800 to $71,000, this led to the liquidation of short positions. However, the outcome of the Coinbase case could negatively impact the operation of exchanges. The ban on staking services in the US may also affect altcoins based on the Proof of Stake (PoS) mechanism such as Ethereum.

The inclination of the SEC to classify altcoins as securities contributed to the downturn in the markets. The letter of the US House of Representatives to the SEC continues to perpetuate the uncertainty in the market.

Market Dynamics and Expert Opinions

Experts predict that the decrease in appetite for risk markets may be due to the inability of the S&P 500 index to maintain its all-time high. Uncertainties about the interest rates of the Federal Reserve in the US are unsettling investors. While the expectation is for the SEC to cut interest rates, the uncertainty of this decision is causing concern in the markets.

The founder of Bespoke Investment Group notes that the absence of gains in the stock market poses a risk for the markets. This, due to the positive correlation between the stock market and the crypto currency market, could also have a negative impact on the cryptocurrencies.

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how to buy crypto?
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