The sell-offs by investors were driven by macroeconomics with possibilities of interest rate hikes by the Fed keeping them on their toes.
. While the impending halving event for LTC may have attracted investors, the XRP community was pumped over a successful outcome in the legal dispute with the U.S. Securities and Exchange Commission .
SOL’s case was surprising as it was one of the many altcoins alleged to be securities in SEC’s lawsuit last week.The total market capitalization of the crypto space plunged 37% over the past week, with SEC’s lawsuit wiping out nearly $17 billion, according to CoinMarketCap. However, the new week showed early signs of recovery. This was because BTC was trading at $26,138.43, a minor jump of 0.70% at press time.The market’s next test will be the Fed’s meeting on 13 June and 14 June. Experts are divided over the outcome of the meeting with some predicting another interest rate hike by 25 basis points. However, others suggest that the central bank could skip it this month.
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