Rally Retraces, Tether Continues its Tear
May 31, 2023
Market Update The crypto market has seen a significant reversal of its weekend rally as investors watchfully anticipate the House vote on the debt ceiling agreement brokered between the White House and the House Speaker. $BTC has fallen below the $27k mark, while $ETH grapples with maintaining a foothold above $1850, and other altcoins face more considerable downward pressure. Optimism ($OP) has seen a roughly 4% decrease in value, hitting its lowest point since early January due to a significant token unlock event. Further compounding these market pressures is a strengthened US dollar, spurr