Is the crypto market cooling down after FTX fallout in 2022?

The entire crypto market is swinging from side to side, comfortable in smooth curves and in limited range. After the FTX fallout in 2022, the trust on such currencies has been crushed and the market turned totally in the downside range with no signs of cooling down.

Why is bitcoin falling?

Bitcoin has struggled to break decisively above $30,000 in recent months. The price of Bitcoin and other cryptocurrencies was falling on Monday as traders look ahead to the Federal Reserve’s monetary-policy decision this week.

Why did the price of bitcoin fall on Monday?

The price of Bitcoin and other cryptocurrencies was falling on Monday as traders look ahead to the Federal Reserve’s monetary-policy decision this week. The global launch of a new cryptocurrency co-founded by OpenAI CEO Sam Altman was doing little to lift spirits in the sector.

Will crypto prices recover after a rate hike?

Crypto prices continued to drop with every rate hike and they haven’t shown any signs of recovery lately. When the Luna crypto network collapse occurred in May, it was considered the most enormous crypto crash ever with an estimated wipeout of about $60 billion. Stable coins were no longer stable.