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Long-term Bitcoin investors accumulate more tokens amidst the recent dip, with net accumulation at its fastest pace since October 2021. However, Bitcoin’s divergence from the Nasdaq index raises concerns, urging both long-term and short-term investors to remain vigilant and assess potential risks and rewards.

Despite a recent 56% drop in Pepe (PEPE) memecoin’s price, on-chain data reveals crypto whales, including former tech entrepreneur Jeffrey Huang, continue to buy the token. Researchers at Matrixport linked the price decline to large holders selling their holdings to new retail investors, with Asian traders being a significant driving factor.

The Pepecoin rally halted after Binance listed the frog-themed cryptocurrency, while market leaders Bitcoin and Ether display lowered volatility expectations. Aave community decides to deploy V3 on Ethereum layer 2 ecosystem, Metis Network, for enhanced liquidity.

Recent data from Matrixport suggests a narrowing wedge pattern in the cryptocurrency market could lead to a 6,100-point increase in Bitcoin’s price, reaching $35,000-$36,000. Factors supporting this potential uptrend include a record-high number of transactions, nearly 1 million active addresses, and a possible crypto rally amid the ongoing banking crisis.

Bitcoin climbs above $29,000 following the U.S. Federal Reserve’s interest rate hike, prompting speculation of a potential 20% rally to $36,000. Meanwhile, WallStreetBets token (WSB) sees a 90% drop in value within 24 hours after a significant market cap boost, emphasizing the volatile nature of the crypto market.

Matrixport’s recent report suggests that a narrowing wedge in the market may lead to a 20% Bitcoin rally, potentially pushing it to trade between $35,000 and $36,000. However, external factors such as the Federal Reserve’s interest rate decision and potential regulatory changes add uncertainty to the cryptocurrency market’s future.

Bitcoin’s value surges 70% this year, with the Federal Reserve’s interest rate decision playing a significant role. As Jerome Powell’s announcement approaches, his clarity on the end of the tightening cycle may impact Bitcoin’s price, as Treasury yields and the U.S. dollar historically affect the cryptocurrency’s performance.

In today’s market overview, we explore Bitcoin’s slow upward push, the resilience of the Korean crypto market, and the uncertainty surrounding US interest rate hikes. The crypto industry witnesses ongoing banking instability paired with an unstoppable Bitcoin, an adaptable Korean market, and a complex economic battleground in the US.