price keeps above $37,000, Ether around $2,450, and the total cryptocurrency market cap at about $1.6 trillion, still down more than 35% to 45% from their ATHs recently.
While the market has recorded an uptick from its lows, the market is cautiously bullish, with some seeing it as the beginning of a bear market.
Risk currently persisting in the market revolves around clarity with China restrictions, which are not limited to the crypto sector and comes just ahead of the politically sensitive 100th anniversary of the ruling communist party on July 1st.
As for the implications of CFTC’s comments on DeFi, they are not expected to play out soon as things of regulatory nature take time to play out.
“The El Salvador news and Saylor bid might just be enough momentum to kick off risk appetite in an otherwise extremely fearful market,” noted Jason Choe, founder of The Blockcrunch Podcast and a partner at crypto fund The Spartan Group.
So, is the bull cycle...read more...