Gate.io’s Daily Market Trends（June 17th）: FED Hints Increasing Interest Rate, Bitcoin Price Falling

2021-06-17, 08:23

Author: Gate.io Researchers: Gazer. C & Charles. F

As of 15:00 GMT, Bitcoin’s price was $39354.59 and Ether’s price was $2454.61. Under the influence of high inflation expectations yesterday, Bitcoin’s price plunged, and the price dropped by $873.48 within one hour. From the evening of the 16th to the early morning of the 17th, Bitcoin’s price showed a decline in resistance. In the morning of the 17th, the Bitcoin price rebounded and returned to the 39,000 level in the afternoon. In the afternoon, Bitcoin’s price showed a state of double increase in bid volume, and the momentum of price increase was sufficient. Bitcoin’s price may hit $40,000 today.

According to Gate.io data, a total of 50553 traders have suffered liquidation in the past 24 hours, worth a total amount of over $ 377 million.
IRON Finance announced on Twitter that “Since the price of titan has fallen to 0, the contract does not allow for redemptions” due to an ongoing bank run. In less than 24 hours, the pool balance went down to 576 million.

The FOMC (Federal Open Market Committee) of the Federal Reserve said in a statement following the conclusion of the policy meeting that interest rates would be held near zero to 0.25%. And the central bank will continue asset purchases at a $120 billion monthly pace. Officials also signaled the interest rates will increase by the end of 2023.

The Financial Services Commission(FSC) of South Korea announced that the government is planning to enforce more strict regulatory policies on cryptocurrencies. Potential measures include banning exchanges from listing its own tokens, banning staff or related people of exchanges from trading on their own exchanges.

Author: Gate.io Researchers: Gazer. C & Charles. F
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

Gate.io Spot Quotes (as of 15:30 CST)
BTC:$39354.59(-2.22%)；ETH:$2454.61(-3.29%)；DOGE:$0.313268(-1.67%)；GT:$4.0103(-0.98%)；XRP:$0.85921(-1.14%)；ADA:$1.534(-2.13%)；DOT:$23.894(-1.84%)；UNI:$22.884(-2.38%)；

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