The cryptocurrency market digest (BTC, ETH, LTC). Overview for 10.06.2022

June 10, 2022

Article By RoboForex.com

Considering the fact that everything around it is falling, declining, and plunging, the BTC is doing a good job. On Friday, the major cryptocurrency is balancing at $30,075.

The US stock market plummeted yesterday. The S&P 500 index broke 4,100 пунктов and may continue falling towards 3,600 if the conditions remain as questionable and disturbing as before. There is a correlation between S&P 500/NASDAQ and the BTC, although it’s been much weaker this week.

The BTC and the uptrend didn’t get along very well recently – but it’s rather clear why due to the market conditions. However, bears are also in no hurry to attack. The range of $28,000-$31,590 doesn’t let the BTC go, and the longer its borders remain solid, the stronger a breakout of this “flat” later will be .

The US inflation statistics for Mat will be the highlight of the day. The report is very important in anticipation of the upcoming US Fed meeting scheduled for the next week. In the evening, global markets may get more volatile.

LTC: Korean exchanges against

Major Korean exchanges are planning to delist Litecoin after the MimbleWimble upgrade in the asset network. The upgrade was intended to enhance confidentiality and made all Litecoin-based transactions non-transparent. The upgrade goes against South Korea’s anti-money laundering regulations, which have an aggressive stance against privacy coins. Bimeiti and at least 4 other crypto exchanges have already delisted LTC.

Binance will give away Shiba Inu tokens

New Binance users will get popular meme Shiba Inu tokens for free. The exchange is looking to attract more attention to its products, online courses and quizzes, and a giveaway is one of the most effective tools for that.

Ethereum: final rehearsal

The Ethereum network’s oldest testnet, Ropsten, was successfully merged to Proof-of-stake. In fact, it looks like a final rehearsal before the transition of the entire network to Ethereum 2.0 scheduled for August, and it’s a very important event for the company, its tokens, and the whole crypto market. Ethereum 2.0 is expected to be faster, more effective and might solve the key scalability issues.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.