© Reuters
Investing.com – Major cryptocurrencies suffer from two negative losses, in which they lost 3.23% of their value and lost the $30,000 level, with renewed news about the strength of the US dollar and other evidence supporting the Federal Reserve’s interest rate hike, which weakens risk appetite, as well as the continued regulatory attack on institutions.
Bitcoin fell to the level of $29,346 for the symbol, down by 3.23%, while Ethereum fell by 1.05%, to $2,071.38 for the symbol, but it is still up 11.10% on a weekly basis.
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The organizational attack does not stop
The US Securities and Exchange Commission alleged that cryptocurrency exchange Bittrex violated federal laws. Former CEO Bill Shihara and Beatrix International are now facing charges from the SEC.
In a press release on Monday, the regulator said that Bittrex has worked with several cryptocurrency issuers to scrap critical information and delete problematic data to avoid scrutiny from the SEC, including price predictions and statements indicating “expect profit.” The SEC also claims that Bittrex should have registered as an exchange, clearing agency, and broker, because it provides services for all three types of entities.
Gurbir Grewal, director of law enforcement at the SEC, said the lawsuit against Bittrex “should send a message to other non-compliant crypto market brokers.” Binance, the world’s largest cryptocurrency exchange, is also facing numerous harassment and accusations from the SEC. Its president, CZ, is accused of many accusations, none of which have been proven yet.
other cryptocurrency prices
Binance Coin is down 2.23% to $338.60 an ounce, while RBI is down 2.35% to $0.50745 and down 3.08% to $0.4336. While Solana increased by 0.60% and 0.54%, respectively. Negativity and decline dominate the majority of digital currencies, with the exception of Avalanche, which managed to rise by 7.92%, recording $20.71 for the symbol.
Today witnessed the release of the Empire State manufacturing data, which was strongly positive after 5 sessions of strong decline, to give the Fed new confidence in the possibility of raising interest rates, which stimulated the rise of the US dollar index and reduced risk appetite among traders.
It is expected that the Fed will raise the interest rate in the upcoming May meeting with the expectations of the majority, according to the data of the Fed Monitoring Index, while opinions differ on the June meeting, and so far the majority believes that the Federal Reserve will fix interest at that time at 5.25%, despite the call of Christopher Waller, a member of the Federal Reserve and its most famous hawk, to Increase interest more than once.
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