More Than 13 Million ETH Staked on Beacon Chain; Prada Releases Solo NFT Project
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On Tuesday, the broader crypto market saw a spark of relief — a final twist in a month that experienced a surge in fear and uncertainties. A tumultuous May ended far from where it started for the crypto market, as debate raged around several issues including (but not limited to) the collapse of Terra, inflation, and the U.S. Federal Reserve's aggressive monetary policies. BTC momentarily crossed the $32K threshold during midday trading (U.S. trading hours) on Monday, but the momentum soon lost its steam. As of the time of writing, the largest cryptocurrency by market cap is consolidating above the $31K level after posting a marginal loss over the last 24 hours. The immediate overhead resistance for BTC lies in the $31.8K to $32.4K zone. A clear break above this zone would likely usher in more upside momentum for BTC. However, some analysts are still skeptical with regard to any long-term bounce for BTC due to the deteriorating macroeconomic conditions.