Crypto Market: Calm Seas or Stormy Seas Ahead?
• The crypto market is experiencing periods of volatility, with bitcoin and the altcoins moving between highs and lows.
• The U.S. SEC’s recent actions have created a sea of uncertainty in the crypto markets.
• Tuesday’s U.S. CPI data could be decisive in determining the next move for bitcoin and altcoins, with higher inflation driving prices down and lower inflation driving them up.
Volatile Crypto Market
The current crypto market is characterized by violent ups and downs, creating an unpredictable atmosphere for investors. Bitcoin and altcoins are seeking to build a base for the next bull market, but it is difficult to judge which way prices will go as a result of the uncertain regulatory environment created by the U.S. SEC’s recent actions.
The U.S. SEC has been actively trying to dampen enthusiasm in the crypto space by shutting down staking on Kraken exchange, among other steps taken against cryptocurrency investments in general.. This has caused considerable doubt as to whether or not prices will keep rising or if they’ll start going back down again soon due to external pressure from regulatory bodies like the SEC itself.
Tuesday’s Inflation Data