According to Bloomberg, the crypto market is experiencing significant losses, with doubts arising about the Federal Reserve's ability to rapidly cut interest rates from a two-decade high. Some analysts view the retreat in digital assets as a reflection of the current market dynamics, characterized by low volatility, soft volumes, and unbalanced order books when prices start to edge out of their range.
Particularly notable are the drops in some sectors, despite the impending launch of the first US ETFs investing directly in Ether, the second-ranked crypto asset. Solana, for instance, was recently a market leader but is now facing a downturn. Bitcoin, which hit a record high of $73,798 in March, is also trailing behind traditional assets such as stocks, bonds, and gold this quarter.