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	<p>As of May 31, 2023, the price of Bitcoin is $27,686 and Ethereum is at $1,901. These prices reflect a rise in the value of these cryptocurrencies since the beginning of the year, with Bitcoin up 65% and Ethereum up 55% year-to-date​.</p>
<figure id="attachment_21799" aria-describedby="caption-attachment-21799" style="width: 1858px" class="wp-caption alignnone"><img decoding="async" class="wp-image-21799 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/05/btc-price.jpg" alt="btc price" width="1858" height="792" srcset="https://crypto.ro/en/wp-content/uploads/2023/05/btc-price.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/05/btc-price-300x128.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/05/btc-price-1024x436.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/05/btc-price-768x327.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/05/btc-price-750x320.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/05/btc-price-1140x486.jpg 1140w" sizes="(max-width: 1858px) 100vw, 1858px" title="Bitcoin&#039;s price fluctuates amidst growing market activity and volatility 2"><figcaption id="caption-attachment-21799" class="wp-caption-text">BTC Price Chart | CoinMarketCap</figcaption></figure>
<p>In the recent weeks, there has been increased volatility in the market. Between mid-March to mid-April, <a href="https://crypto.ro/en/bitcoin/">Bitcoin</a> traded in a narrow price range between around $26,000 and $28,600.</p>
<p>However, Bitcoin broke out to the upside on April 10, ultimately trading as high as $31,005, and <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">Ethereum</a> prices also rallied in April, jumping more than 10% to above $2,000 for the first time in eight months following its <a href="https://crypto.ro/en/news/bitcoins-market-dominance-slips-as-ethereum-hits-12-month-high-post-shanghai-upgrade/">Shanghai upgrade</a>.</p>
<figure id="attachment_21800" aria-describedby="caption-attachment-21800" style="width: 1860px" class="wp-caption alignnone"><img decoding="async" class="wp-image-21800 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/05/eth-price.jpg" alt="eth price" width="1860" height="792" srcset="https://crypto.ro/en/wp-content/uploads/2023/05/eth-price.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/05/eth-price-300x128.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/05/eth-price-1024x436.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/05/eth-price-768x327.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/05/eth-price-750x319.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/05/eth-price-1140x485.jpg 1140w" sizes="(max-width: 1860px) 100vw, 1860px" title="Bitcoin&#039;s price fluctuates amidst growing market activity and volatility 3"><figcaption id="caption-attachment-21800" class="wp-caption-text">Ethereum ETH Price Chart | CoinMarketCap</figcaption></figure>
<p>This bullish trend was driven in part by a sharp sell-off in shares of <a href="https://crypto.ro/en/news/bitcoin-soars-past-29k-amid-rising-us-banking-crisis-and-argentine-inflation/">First Republic Bank</a>, which reported a significant drop in customer deposits in the first quarter. The ongoing <a href="https://crypto.ro/en/news/bitcoin-and-gold-gain-ground-as-us-banking-sector-struggles/">U.S. banking crisis</a> and the potential for a looming recession have driven some investors to seek shelter in cryptocurrencies​.</p>
<h2 id="regulatory-impact-on-crypto-market">Regulatory impact on crypto market</h2>
<p>The cryptocurrency market has also been impacted by regulatory developments. The U.S. Securities and Exchange Commission (SEC) has proposed amendments to include <a href="https://crypto.ro/en/news/binance-and-ceo-cz-facing-regulatory-action-from-cftc-irs-and-sec/">crypto trading platforms under existing securities regulations</a>, indicating that crypto companies will not receive a set of tailored regulations.</p>
<p>This has been met with resistance from crypto exchange <a href="https://www.coinbase.com" rel="nofollow noopener" target="_blank">Coinbase</a> and members of the House Financial Services Committee, who accuse the SEC of driving cryptocurrency platforms overseas. Additionally, new rules have been proposed for &#8220;payment&#8221; stablecoins that could limit risk and potentially attract more institutional investment​.</p>
<h2 id="evolving-crypto-landscape-and-liquidity">Evolving crypto landscape and liquidity</h2>
<p>According to a report by <a href="https://k33.com/research/reports/ahead-of-the-curve/debt-ceiling-to-cause-heightened-volatility-ahead" rel="nofollow noopener" target="_blank">K33 Research</a>, regulatory changes in Asia and the re-election of Recep Erdogan as president of Turkey have contributed to the changing market dynamics.</p>
<p>K33 Research suggests that the surge in Bitcoin&#8217;s price has been partially driven by over-leveraged shorts, leading to a decrease in open interest. Simultaneously, progress in U.S. debt ceiling negotiations has fueled a rally in both the crypto and U.S. equities markets.</p>
<p>The report highlights the evolving structure of the crypto market, with stablecoins and Ether gaining prominence while Bitcoin&#8217;s dominance remains relatively lower. This shift in market dynamics, coupled with the potential lack of sufficient de-risk rotation, has drawn parallels to the previous bear market.</p>
<p>However, the report also notes that the cure for these market uncertainties lies in increased <a href="https://crypto.ro/en/news/bitcoin-market-liquidity-hits-10-month-low/">liquidity</a>, which currently appears to be lacking. The absence of liquidity further adds to the volatility and unpredictability of the crypto market.</p>

Bitcoin’s price fluctuates amidst growing market activity and volatility

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