Senior researcher at LBank Labs Johnny Teng said that such a small growth is due to the cautious position of investors due to litigation with XRP. Recall that earlier SEC Chairman Gary Gensler expressed his displeasure over the court’s decision to securitise the XRP token. Further complicating the situation was the possibility of an appeal by the SEC.
Teng also noted that uncertainty in the market is causing pressure from the U.S. government, as well as profit-taking by short-term asset holders, combined with strong support from institutional players and the presence of significant liquidity around $24.3.
This situation requires investors to be cautious.
Joe DiPasquale of BitBull Capital noted that the market continues to consolidate and sentiment is still positive, but bulls and bears should be cautious due to possible asset declines.
Experts predict that the week will be eventful. Already on Wednesday, the FOMC interest rate policy decision will be published. At the same time, it was previously mentioned that this is the last Fed rate hike.