Welcome back to your proactive crypto report with Natalie Stoberman!
Bitcoin has made some strides to recover after hitting three month lows last Thursday. The weekend brought relief to the crypto market, with $BTC reclaiming nearly $27,000 before stabilizing in the mid-$26K range for the start of the week. Even major altcoins that suffered double-digit losses last week are now experiencing range trading and cooling off.
With the American markets closed for Juneteenth, all eyes are on Europe to see how the U.K. Inflation Report on Wednesday will impact the crypto market.
In other news, Terraform Labs Co-Founder Do Kwon has been arrested in Montenegro for forgery. Kwon has allegedly been “on the run” after the multi-billion dollar collapse of Terra’s $LUNA token and TerraUST stablecoin back in May 2022. Kwon has been sentenced to four months in a Montenegro jail, raising the possibility of extradition to South Korea and the United States to face charges related to the crypto platform collapse.
Stay tuned for more updates and see you next time!
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