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

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

Keep reading by starting your Free Trial today!

You are reading the last free article.

Already have an account? Sign In

FS Insight footer logo

150 East 52nd St, 3rd Floor New York, NY 10022

SUBSCRIBE TO OUR FREE RESEARCH REPORTS

An institutional-grade report delivered to your inbox every week.

© 2025 FS Insight. All rights reserved.

Illustrations by Karl Wimer.