Bitcoin and ether both experienced a slight decline at the beginning of the week, with bitcoin dropping to $25,785 and ether falling to $1,735. Despite the recent SEC lawsuit against Coinbase and Binance, both cryptocurrencies held up relatively well, while some altcoins suffered losses.
Hernán Yellati, Head of Global Macro Research at CTF Capital, predicts a volatile week ahead with no clear direction in the near term. Yellati also notes that the SEC's regulation by enforcement has drawn criticism from market participants and lawmakers, while other jurisdictions like Hong Kong are inviting US companies to operate under their jurisdiction.
Markets will be closely watching May inflation data and the Federal Reserve's interest rate decision this week.
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