Solana (SOL) tumbled on June 16 amid a broader retreat across the top cryptocurrencies, led by the Federal Reserve's 0.75% interest rate hike a day before. Solana price rebound fizzles Notably, SOL/USD plunged nearly 17% to $30 a token, wiping out almost all the gains from the day before. The SOL price volatility liquidated almost $10 million worth of contracts in the past 24 hours across multiple crypto exchanges, data from Coinglass shows. The latest declines come as an extension to SOL's broader correction, where it dropped by more than 90% after peaking out near $267 in November 2021. SOL …

Ethereum's native token Ether (ETH) slumped on June 16, suggesting that its relief rally, coinciding with the Federal Reserve announcing it will hike the benchmark rate by 0.75%, is at risk. Ether bulls trapped? Ether's price slipped by 9.2% to around $1,120 per token a day after it rebounded by 23% after dropping to almost $1,000, its worst level since January 2021. The ETH/USD pair's upside move, followed by a sharp correction, appeared in tandem with U.S. stocks, confirming that it traded like a risk-asset. The decline means that Ether has shed 77% of its value since November 2021 and …

Global financial markets were squarely focused on the U.S. Federal Reserve and its decision to raise interest rates by 75 basis points on June 15, the largest increase in 28 years as the central bank fights to tamp down the highest inflation rates in over four decades. Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) and the wider cryptocurrency market fell under pressure in the early trading hours on June 15 as rumors of the possible collapse of Three Arrows Capital (3AC) spread across the ecosystem, which is still grappling with the ongoing Celsius debacle. Following the …

Ethereum's native token Ether (ETH) is showing signs of bottoming out as ETH price bounced off a key support zone. Notably, ETH price is now holding above the key support level of the 200-week simple moving average (SMA) near $1,196. The 200-week SMA support seems purely psychological, partly due to its ability to serve as bottom levels in the previous Bitcoin bear markets. Independent market analyst "Bluntz" argues that the curvy level would also serve as a strong price floor for Ether where accumulation is likely. He notes: "BTC has bottomed 4x at the 200wma dating back to 2014. [Probably] …

Ethereum’s native token Ether (ETH) entered its “oversold” territory this June 12, for the first time since November 2018, according to its weekly relative strength index (RSI). This is the last time $ETH went oversold on the weekly (hasn’t confirmed here yet). I had no followers, but macro bottom ticked it. Note, you can push way lower on weekly rsi, not trying to catch a bottom. https://t.co/kLCynTKTcS — The Wolf Of All Streets (@scottmelker) June 12, 2022 ETH eyes oversold bounce Traditional analysts consider an asset to be excessively sold after its RSI reading fall below 30. Furthermore, they also …

The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past seven days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. The June 10 consumer price index (CPI) report showed an 8.6% year-on-year increase and crypto and stock markets immediately felt the impact. Still, it’s not certain whether the figure will convince the United States Federal Reserve to hesitate in future interest rate hikes. Mid-cap altcoins dropped further, sentiment is still bearish The generalized bearish sentiment …

Bitcoin (BTC) briefly broke above $32,000 on May 31, but the excitement lasted less than four hours after the resistance level proved to be tougher than expected. The $32,300 level represented a 20% increase from the May 12 swing low at $27,000 and it provided the necessary hope for bulls to buy some $34,000 and higher call options. The fleeting optimism reverted to a sellers' market on June 1 after BTC dumped 7.6% in less than six hours and pinned the price below $30,000. The negative move coincided with the United States Federal Reserve starting the process of scaling down …

In January, the United States Federal Reserve Board of Governors released a discussion paper on a potential U.S. central bank digital currency (CBDC) titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” The comment period for the paper ended May 20, with the Fed receiving over 2,000 pages of comments from individuals alongside responses from leading stakeholders. Cointelegraph read a selection of shareholder responses to the Fed paper, and it quickly became apparent that there are plenty of confidently stated opinions but little agreement among them. The main points of commonality are in the places they …

Wyoming based digital asset bank Custodia is suing the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City, claiming an “unlawful delay” in processing an application for its master account. Custodia, formerly known as Avanti, was one of the first Special Purpose Depository Institutions (SPDIs), also known as “blockchain banks,” made under a Wyoming regulatory framework. The bank was founded by Caitlin Long, an early advocate of Bitcoin (BTC) who established the institution in 2020 to provide accounts for crypto companies and serve as a bridge for them to the U.S. dollar payment system. Custodia submitted …

The St. Louis Federal Reserve stirred up a mix of amusement and curiosity from the crypto community on Tuesday, May 7, after publishing a post showing how the cost of eggs in Bitcoin (BTC) has fluctuated over the last 14-months compared to the U.S. dollar. On Monday, the Fed research arm posted a blog post titled “Buying eggs with bitcoins — A look at currency-related price volatility.” The FRED Blog compares egg prices in U.S. dollars vs. bitcoins. Check out the post to see which prices are more stable https://t.co/Qfy9w8zgBk pic.twitter.com/qpFH4ny33S — St. Louis Fed (@stlouisfed) June 6, 2022 The …

Cardano (ADA) was among the best performers among the top cryptocurrencies on June 6 as traders assessed a key upgrade that promises to enhance its blockchain's smart contract capabilities. Vasil hard fork FOMO Dubbed "Vasil," the so-called hard fork event will tentatively take place on June 29, 2022. As a result of the euphoria surrounding this upgrade, traders have started speculating more on ADA's upside prospects, resulting in its better performance than other top-ranking digital assets. For instance, ADA's price rose by over 14% to $0.64 on June 6 compared to the 6% gains of its top rival, Ether (ETH), …

Solana’s (SOL) price dropped on June 3, bringing its net paper losses down to 85% seven months after topping out above $260. SOL price fell by more than 6.5% intraday to $35.68, after failing to rebound with conviction from 10-month lows. Now sitting on a historically significant support level, the SOL/USD pair could see an upside retracement in June, eyeing the $40-$45 area next, up around 25% from its June 4 price. 60% SOL price decline ahead? However, a rebound scenario is far from guaranteed and Solana faces headwinds from trading in lockstep with Bitcoin (BTC), the top cryptocurrency (by …