FTM whales pull back as Fantom price crashes by 10% in 24 hours
Fantom price is observing new lows as Bitcoin, too, fell on May 24. The crypto market turned bearish once again over the last few hours, with many other altcoins following a similar fate. However, in the case of Fantom, the trouble is a little more extensive since it is also losing the support of its investors.
Bitcoin (BTC) price cycles are structured around halving events that occur once roughly every four years, when rewards to miners are cut in half. The next BTC halving is expected in early 2024, and evaluating the differences between the 2015 to 2017 and 2020 to 2023 Bitcoin cycles can help traders define their expectations and prepare for the bull run.
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Ethereum (ETH) price is shedding some value this Wednesday as cryptocurrencies dive lower in synchrony. Risk assets are not in the sweet spot with both equities and cryptocurrencies printing red numbers as a safe haven flow unfolds in the markets. The stalemate in the US debt ceiling negotiations, the Fed Minutes later on Wednesday and a 50% of yet another US rate hike in July are just a few elements that are making Ethereum price likely to drop below $1,800.
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