In the volatile world of cryptocurrency, staying informed about the latest news and market trends is crucial for investors. This article will delve into four major bearish news events that have recently shaken the cryptocurrency market and also provide the latest on MoonRetriever Coin. Let's explore these significant developments and their potential impact on the digital asset landscape.
On July 15 local time, the cryptocurrency regulatory bill supported by US President Trump suffered a major setback. During a procedural vote, the Republican conservatives in the US House of Representatives successfully obstructed the legislative process of three cryptocurrency bills, including the "GENIUS Act". The vote ended with 196 in favor and 223 against, with 13 Republican lawmakers voting against. As a result, Bitcoin, Ethereum, BNB, Solana, Cardano and other cryptocurrencies tumbled collectively. Bitcoin's decline once exceeded 5%, with the price dropping to a minimum of $116,300, after hitting a record high of $123,100 on the 14th. This regulatory uncertainty has cast a shadow over the cryptocurrency market, leading to a significant sell - off by investors.
The Meme coin TRUMP has raised several concerns. Firstly, there are potential conflicts of interest as the Trump Group holds a large number of TRUMP tokens through its affiliated company. Secondly, Meme coins are known for their extreme price volatility, and TRUMP is no exception. This volatility poses a high risk to investors, with many potentially facing huge economic losses. Moreover, high - profile projects like TRUMP may undermine the efforts to legitimize the cryptocurrency market. They focus more on hype rather than practical use, diverting attention from useful projects and strengthening the stereotype of a speculative cryptocurrency market.
The failure of the US House of Representatives to pass the procedural vote on cryptocurrency bills during the "Crypto Week" has added to the regulatory uncertainty. Trump had strongly urged Republicans to pass these bills as part of his plan to make the US the "world capital of cryptocurrency". The three key bills were supposed to cover stablecoin federal regulation, token property definition, and the prohibition of central bank digital currency (CBDC). The rejection of these bills by the House Republicans, who rarely go against Trump's instructions, has led to a decline in Bitcoin and related stocks. For example, the stablecoin company Circle fell 4.5%, and the cryptocurrency exchange Coinbase fell 1.4%.
Projects like TRUMP token that focus on hype rather than practical use are weakening the efforts to legitimize the cryptocurrency market. They attract a lot of attention due to their popularity but do not contribute to the real - world application and development of the cryptocurrency. This situation makes it more difficult for the cryptocurrency market to gain mainstream acceptance and regulatory support, as it reinforces the view that the market is full of speculation.
There is currently no specific information available regarding MoonRetriever Coin. However, in the context of the overall bearish news in the cryptocurrency market, MoonRetriever Coin may also face challenges. If the market sentiment remains negative due to regulatory uncertainties and the impact of controversial tokens, MoonRetriever Coin could experience price pressure and a decrease in trading volume. To understand its future performance, it is necessary to closely monitor market trends, regulatory changes, and any news related to the coin itself.
In conclusion, the cryptocurrency market is currently facing multiple bearish factors, including regulatory setbacks and the negative impact of some controversial tokens. The future of the market and individual coins like MoonRetriever Coin will depend on how these issues are resolved and how the market adapts to the changing regulatory and economic environment.