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Also Read: Circle Set To Reveal Update On USDC Ecosystem Boost; What Could It Be? advertisement Weak Support For Terra Classic? Over the last 30 days, the LUNC market cap reduced by as much as $100 million to $360 million currently. This could likely mean the interest in buying the coin dwindled as may lead to further price drop. According to Blastoise, a LUNC supporter, the support level for the token with the USDT pairing is at around $0.000055 while the resistance level is at around $0.000068. “The current price is at the support level, which is a good sign. If the price can hold above the support level, it could signal a reversal to the upside.” On the flip side, a price break below the support level could signal a continuation of the downtrend. Will the LUNC price drop further below the $0.000055 level? In the led up to the US Federal Reserve‘s FOMC meeting between September 19-20, 2023, the Crypto Market could likely witness volat...

Also Read: Tesla Retains Dogecoin As Payment Option; Removes Bitcoin advertisement According to the CME FedWatch Tool, a platform that assesses the likelihood that the Fed will change the target rate at the upcoming meeting, the market is fully confident that there will be a 25 bps hike from the current target rate of 500-525 bps. As many as 99.2% of respondents feel the US central bank will impose an interest rate hike in the July meeting. What Low Volatility Means For Bitcoin Price Currently, the top cryptocurrency’s volatility is at a six month low level, thanks to the recent sideways movement surrounding the news of financial giants like Blackrock filing for spot Bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC). Glassnode data shows that the last time Bitcoin price saw such a tight volatility squeeze was in January 2023, when the Crypto Market price saw a jump with Bitcoin itself recording a 30% rise. Also, historically, t...

Also Read: Ethereum, Polygon Developers Skeptical Of OpenAI CEO’s Worldcoin advertisement In this context, severe criticism was seen against SEC Chair Gary Gensler for his “come, register and comply” policy. Things got even more intense after Gensler failed to answer whether the existing laws are sufficient to govern the crypto asset market. Change In Crypto Market Soon? In light of heightened enforcement actions against crypto businesses and the US regional banking crisis, the Bitcoin price has been witnessing sideways movement associated with some loss in value over the last few weeks. Meanwhile, the Crypto Market sentiment was actually dominated by the memecoin frenzy with the likes PEPE Coin grabbing investor attention since its launch in April 2023. In this context, crypto influencer Ran Neuner believes the ongoing regulatory scrutiny could soon ease off as we approach the US election year. Further, he predicted that the SEC ...