The implosion of Terra’s U.S. dollar-pegged stablecoin terraUSD could change South Korea’s frenzied crypto trading market as regulators pay more attention to the situation; BTC travels sideways on Wednesday. shauryamalwa and JPRubin23 report
Bitcoin and other major cryptocurrencies traveled sideways for the second consecutive day.
A number of crypto markets analysts say that bitcoin will remain in the $28,500 to $30,500 range it has held since the collapse of the terraUSD (UST stablecoin two weeks ago until investors have clarity in how the current uncertain environment of high inflation and sagging economic indicators will resolve itself. According to minutes, released Wednesday, of their last meeting, Federal Reserve officials indicated that they would have to raise interest rates by 0.
Brent crude oil, a measure of energy market prices, hovered over $111 per barrel, and with the summer U.S. travel season approaching, demand for oil is expected to be strong.
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