Wednesday

Terra

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrencies-face-market-decline" data-wpel-link="internal">Cryptocurrencies Face Market Decline</a><br></p>
<p style="text-align: justify">The leading cryptocurrency has turned downward again, breaking a key support level. Investor anxiety has heightened since the Federal Reserve’s announcements, and the expected listing of the ETH ETF has been delayed until mid or late July. The extension of the listing period and negative macroeconomic factors are complicating matters.</p> 
<h2 id="what-is-causing-the-crypto-downturn">What Is Causing the Crypto Downturn?</h2> 
<p style="text-align: justify">Recently, SEC Chairman Gary Gensler commented on Terra, suggesting that most cryptocurrencies are securities, and lack of regulation can lead to disastrous outcomes, as seen in the Terra case. Following these remarks, <a href="https://en.bitcoinhaber.net/bitcoin-breaks-50000-barrier-stirring-excitement-in-crypto-market" data-wpel-link="internal">Bitcoin</a> dropped to $65,600.</p> 
<p style="text-align: justify">Additionally, the Federal Reserve members’ upward revision of their three-year <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">interest rate</a> forecasts has dampened investor enthusiasm since Wednesday evening. Thirdly, Gensler hinted that the ETH ETF listing process remains on track for mid-July, delaying any positive <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">news</a>.</p> 
<h2 id="how-are-global-markets-reacting">How Are Global Markets Reacting?</h2> 
<p style="text-align: justify">Worsening the situation, the DXY index climbed above 105.5. The combination of Federal Reserve statements and negative employment data has strengthened the dollar due to the continuation of tight monetary policy. While Canada and Europe are cutting rates, the Fed’s cautious stance is causing the dollar to strengthen more rapidly, potentially leading to increased sell-offs in risk markets.</p> 
<h2 id="key-observations-for-investors">Key Observations for Investors</h2> 
<p style="text-align: justify">– The short-term support for BTC is at $66,250, with risks of falling to $60,200 if not reclaimed.</p> 
<p style="text-align: justify">– A strengthened dollar might lead to further sell-offs in crypto and other risk markets.</p> 
<p style="text-align: justify">– Investors should monitor Fed announcements and macroeconomic indicators closely.</p> 
<p style="text-align: justify">– The ETH ETF listing delay indicates potential short-term market instability.</p> 
<p style="text-align: justify">As U.S. markets continue in negative territory, with the Russell 2000 index dropping more than 2%, the situation reflects a broader decline in risk appetite among investors.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrencies-face-market-decline" data-wpel-link="internal">Cryptocurrencies Face Market Decline</a></h5>

Cryptocurrencies Face Market Decline

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