The price of SafeMoon (SFM) is likely to drop further after the market tried to push back the current downtrend since last week. Unfortunately, a rebound from $0.000342750 wasn’t enough and looks set to take another test on the back of a major catalyst tonight. This could either be the outcome of the ECB’s emergency meeting that was heralded in early morning European trading, or as a result of the Federal Reserve’s rate hike decision, where polls point to increases of 75 bps or even 100 bps ahead.
Bitcoin price hasn’t paused over the past week, with Wednesday’s dismal price action making it the eighth consecutive day of trading in the red. BTC tested the psychological level of $20,000 during the European session, but the bears were unable to break it on the first try. The cryptocurrency bloodbath continues as giant hedge fund Three Arrows Capital suffers the consequences of the Terra and Celsius Network fiascos.
The price of ApeCoin has come down a lot, as have most altcoins, due to the continued mess in the cryptocurrency ecosystem that seems to have started after the fall of Terra. Either way, APE appears to be in worse shape as it slipped below the listing price.