Global #crypto market

The Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets, has recently expressed its support for Bitcoin (BTC) and Ethereum (ETH) in a research report. The report highlights the growing importance of cryptocurrencies in the global financial landscape and recognizes their potential for future growth.

The prolonged bear market has cast a shadow over Bitcoin, and the recent breach below the $30,000 support level has intensified concerns about a deeper price decline. Analysts predict that a wave of Bitcoin miner capitulation could further destabilize the market, potentially driving the price as low as $62,500.

The Non-Fungible Token (NFT) market is experiencing a significant downturn as crypto investors redirect their attention and funds towards Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs). This shift in investment focus has led to a notable decline in NFT prices and overall market activity.

Uniswap (UNI), the native token of the decentralized exchange Uniswap, has shown signs of recovery after a recent 18% dip. The price of UNI fell from a high of around $8.50 to a low of around $7.00 in a matter of days, but has since rebounded to around $7.50.

The cryptocurrency market is experiencing a welcome surge as news broke of a potential $2 billion influx of funds. This significant investment comes amidst speculation of an upcoming interest rate cut by the Federal Reserve, a development often seen as positive for riskier assets like cryptocurrencies.

Terra Classic (LUNC) has been on a rollercoaster ride in 2024. While the overall crypto market has seen some highs, LUNC hasn't quite captured the same momentum. As a result, even leading AI models are revising their forecasts for the token's price by the end of the year.