Global & Crypto Market Report Under 1 Minute / 05.06.2023

You can read the summary of markets report in 1 minute, which we have compiled daily important news about crypto money markets, global market news and domestic markets.

Cryptocurrencies

  • Atomic Wallet Crisis; Last weekend, some Atomic Wallet users noticed that crypto assets in their wallets disappeared, with $35 million worth of BTC, ETH and other tokens seized by hackers. The case is being investigated.
  • a new Montenegrin court decision; It means that Do Kwon, founder and CEO of Terraform Labs, could be released on bail again. Terra Classic (LUNC) prices have been rising since June 4 in response to the court’s decision.
  • May volumes of crypto exchanges have dropped to the lowest level since November 2020, a 23.2% drop from the previous month.
  • LINA whale, which has played a major role in the ongoing LINA rise since May 26, has removed more than 70 million (1.2M USD) of LINA coins from its wallet in the last 2 days.
  • Is the SEC’s influence waning? With the draft of the US Deputies, crypto money regulations are at the door again.

FED

  • According to the Beige Book report published by the US Federal Reserve (Fed), prices in the country increased moderately, while the rate of increase in prices slowed down in many regions.
  • Fed members’ tones softened; there is a more positive atmosphere.
  • In the statement on 14 June, it is estimated that the Fed will not change the policy rate with 72 percent probability, and it will increase interest rates by 25 basis points with 28 percent probability.

Global Markets

  • Global markets started the week on a positive note with the strengthening of expectations that the US Federal Reserve (Fed) might not raise interest rates at the meeting to be held next week.
  • Asian stocks are on the rise as the US Federal Reserve’s (Fed) rate hike is likely to increase.
  • Equity markets in the USA also continued with a positive course. While the gold ounce price found support, copper prices found support with the reduction of recession concerns. Brent oil prices, on the other hand, were suppressed due to uncertainties in demand indicators for the USA and China.
  • Morgan Stanley predicts that a sudden decline in corporate profits will put a stop to the rally in the US stock market.
  • According to renowned economist Lord O’Neill, the US dollar will lose its dominance in international markets and countries like China and India will play an important role in currency exchange.
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