The crypto market has experienced a decline due to stricter regulations by the US and Nigerian Securities and Exchange Commissions on unregistered securities offered by crypto exchanges. This has led to an increase in selling by Bitcoin miners and a decrease in liquidity for altcoins.

However, the European Union's publication of the MiCA legislation and Hong Kong's opening up to Chinese investors have brought positive news to the market. The upcoming US Federal Reserve interest rate decision and the US Treasury Department's issuance of short-term T-bills are expected to further impact the market's volatility and decrease liquidity in digital assets. Analysts predict that major stablecoins like Tether USDT, DAI, and Circle USDC will be affected.