This week, the cryptocurrency market had ambiguous dynamics, and attempts to grow gave way to the loss of most of the previously won positions: BTC is trading around 27630.00 ( 1.9%), ETH is at 1630.00 (–2.5%), USDT is in the area 1.0002 ( 0.01%), BNB is at 212.5 (–2.5%), and XRP is at 0.5200 ( 0.6%). The total capitalization of the sector amounted to 1.08T dollars, and the share of BTC in it increased to 49.62%.

Investors do not fully understand the US Federal Reserve’s next steps, so they remain cautious when opening new trading positions since most officials’ comments conflict with statistical data. Thus, the August core index of personal consumption expenditures fell from 4.3% to 3.9%, and employment in September, according to Automatic Data Processing (ADP), increased by only 89.0K: inflationary pressure is weakening, and the market labor is cooling, creating the preconditions for the end of the cycle of tightening monetary policy. However, officials say that consumer prices are still very high, and the US economy is successfully resisting pressure, so interest rates could may grow again before the end of the year. Today, experts are awaiting the publication of federal employment data, hoping that they will also be weak, as a result of which the regulator will refuse to further increase borrowing costs.

Ripple has won another legal victory against the US Securities and Exchange Commission (SEC): New York District Court Judge Analisa Torres rejected an interlocutory appeal of a July 13 stated that the XRP token was not a security at the retail stage. The official motivated the verdict by saying that the Commission did not provide enough arguments to substantiate its position and added that the appeal would not significantly influence the trial outcome. The news provided a short-term 4.0% rise in the token’s value but was followed by a correction as investors remain confident that the SEC, despite a series of recent setbacks, will not give up pressure on Ripple. In addition, the corporation obtained permission to operate from the Monetary Authority of Singapore, which is a strategic step to expand its presence in the Asian region.

This week, a landmark trial for the crypto industry began in the case of the former head of the bankrupt company FTX, Sam Bankman-Fried, who is accused of seven criminal counts, including conspiracy to steal funds from clients of FTX and Alameda Research, as well as knowingly introducing them into misleading investments, and if convicted, the entrepreneur faces up to 115 years in prison. In this regard, it is worth noting the joint statement of five leading regulators: the US Securities and Exchange Commission (SEC), the US Commodity Futures Trading Commission (CFTC), the US Financial Industry Regulatory Authority (FINRA), the North American Securities Administrators Association (NASAA), and the National Futures Association (NFA). Representatives of the organizations warned that private investors investing in cryptocurrencies, especially unregistered securities, are exposed to significant risks, and digital assets can be too volatile and can be used by scammers for speculation.

The market situation remains difficult: next week, quotes of major crypto assets may consolidate or resume their decline.