BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $25108 | 3.43% |
| ETHEREUM | $1650 | 5.33% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.06 T | 3.60 % |
| TRADING VOLUME | $39.50 B | 7.34% |
TOP 5 GAINERS
| Indices | LTP | Change (%) |
|---|---|---|
| Snek | $0.0004489 | 37.65% |
| Decred | $14.66 | 16.02% |
| Enzyme | $17.48 | 12.06% |
| TrustWalletToken | $0.8433 | 10.57% |
| Kaspa | $0.01836 | 9.88% |
TOP 5 LOSERS
| Indices | LTP | Change (%) |
|---|---|---|
| GameFi.org | $3.77 | 14.75% |
| tomiNet | $4.40 | 11.81% |
| NvirWorld | $0.02945 | 11.00% |
| Ronin | $0.8097 | 10.88% |
| AuraFinance | $1.52 | 10.80% |
Bitcoin experienced a decline, falling below the $25,000 mark for the first time since mid-March. Ether, along with other top 10 non-stablecoin cryptocurrencies, also retreated. This downturn coincided with decreased trading volumes and the expected decision by the U.S. Federal Reserve to keep interest rates unchanged. However, the Fed issued a warning of potential future rate hikes to address concerns regarding inflation.
Major Events Around the World
On Wednesday, the Federal Open Market Committee (FOMC) made a widely anticipated announcement to pause interest rate hikes. The central bank indicated that there may be potential for additional rate increases later in 2023. This decision was made in light of the easing inflation rate in the United States, with the Consumer Price Index (CPI) showing a month-over-month increase of only 0.1% in May 2023.
During a recent hearing, U.S. District Judge Amy Berman Jackson denied the Securities and Exchange Commission's (SEC) request to freeze the assets of Binance's US arm as the lawsuit proceeds. However, experts believe that a settlement may be in the works between the two parties. The federal judge has requested a mediation hearing, which will allow Binance's US affiliate to continue managing its basic operations.
The world's largest cryptocurrency exchange, Binance, is currently facing legal complications in the United States. As a result, the company has filed an application to deregister as a Crypto Asset Service Provider in Cyprus. However, the reason behind this move remains unclear, as the official website of Cyprus's securities regulator did not provide any explanation.
COIN GABBAR Views: Bitcoin, Ether, and the top 10 cryptocurrencies experience losses as trading volume decreases and the Federal Reserve warns of upcoming rate hikes. Speculation arises regarding the future of Bitcoin's price. What lies ahead for Bitcoin: a potential drop to $20,000 or a rise to $28,000? Please share your insights. Stay tuned for updates and the latest news us at www.coingabbar.com
Also read: Ripple's Lawsuit Takes New Twist with Release of SEC Documents
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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