"Instead of sitting still, it's good that crypto prices go up and down fast, right?"
The cryptocurrency market that took a big hit last week due to the Securities and Exchange Commission (SEC) of the United States (US) is predicted to see more volatile movements this week.
This is because there are many important documents in the Ripple (XRP) lawsuit that will be released amid the legal dispute recently filed between the US SEC and Binance.
The crypto exchange is reportedly responding to an SEC application asking a federal court to issue a restraining order to temporarily freeze the assets of Binance US.
Back to the description, the crypto market is likely to be in a state of uncertainty as the SEC today revealed Bill Hinman's internal discussion that mentions Ethereum (ETH) as a security.
While the crypto market including investors are also focusing on the US Consumer Price Index (CPI) data release which will be announced on June 13 followed by the Federal Open Market Committee (FOMC) on Thursday this week.
Crypto markets should also brace themselves as the European Central Bank (ECB) is expected to raise interest rates by 25 basis points on June 15, 2023, but some think it will hold off on hikes for the rest of the year.
As of this writing, BTC price is up 0.32% at $26,029 in the last 24 hours with a market cap of $504 billion while Ethereum (ETH) slipped 0.11% at $1,747 and XRP gained around 1.02% at $0.52.
