Gate.io Blog Gate.io’s Daily Market Trends_May.30_: Energy issues and dollar release program plan trigger market sell-off Cryptocurrency prices continue to fall

Gate.io’s Daily Market Trends_May.30_: Energy issues and dollar release program plan trigger market sell-off Cryptocurrency prices continue to fall

30 May 17:19

As of 12:00 GMT, Bitcoin price was $34,703.1 and ethereum1637564801632511was $2,290.45. Since 2:00 PM on the 29th, Bitcoin price has seen five straight negative prices and touched the $35,000 price floor at 6:00 PM. On the one-hour line, Bitcoin price broke the 34,000 price floor at 8:00 on the 30th. Later in the afternoon, the RSI indicator turned from weakness to strength as multiple forces began to pull up the spot price, but momentum was clearly lacking. Market trading volumes indicate that money is rapidly flowing out of the cryptocurrency market. The energy problems caused by bitcoin mining and market concerns over the Biden administration's new round of quantitative easing program was the main reason behind the continued decline in cryptocurrency prices from the 28th to the 30th.

South Korea's financial regulator said on the 30th: by September 24, virtual asset operators are required to provide qualification reports to the Financial Services Commission. The commission will have three months to complete the eligibility review and decide whether the operator is eligible to continue operating virtual assets.

Ripple recently blogged about its plans to achieve zero carbon emissions by 2030 and is actively involved in the decarbonization of public blocks.
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On the evening of the 29th, Xinhua issued three articles in two days reminding investors of the investment risks of cryptocurrencies, with particular emphasis on the risk of blowout caused by high leverage.

Belt Finance, an automated market maker application on the Binance Smart Chain, was hacked and the attackers caused a total of $6.2 million in financial losses. Affected by the attackers, belfBUSD experienced price decoupling.

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Author: Gate.io Researchers: Charles. F & Gazer.
*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 12:00 CST)
BTC: $34703.1 (-5.08%); ETH: $2290.45 (-9.50%); DOGE: $0.2972 (-6.06%); GT: $4.252 (-6.47%); XRP: $0.8391 (-9.86%); ADA $1.482 (-4.76%); DOT 19.689 (-10.67%); UNI: $23.137 (-14.43%)

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Gate.io’s Daily Market Trends_May.30_: Energy issues and dollar release program plan trigger market sell-off Cryptocurrency prices continue to fall

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