Bitcoin may plunge further
According to several analysts, the crypto market has not yet experienced a full-blown capitulation, and Bitcoin could fall below current levels. They note that in previous downturns, the price of the first cryptocurrency has declined by 80-90% from its highs, suggesting further price declines.
Terraform Labs sues Jane Street
Terraform Labs, the company that created the Terra/LUNA crypto project, has filed a lawsuit against investment firm Jane Street, accusing it of insider trading. According to Terraform Labs, Jane Street received confidential information about problems in the Terra ecosystem and used it to profit by withdrawing its assets before the LUNA collapse.
Conclusion
The current situation in the cryptocurrency market remains challenging. Despite the significant drop in prices, analysts predict a further decline in the value of Bitcoin. Legal disputes related to the collapse of the Terra ecosystem are also escalating. Investors should exercise caution and carefully analyze the risks when working in the highly volatile cryptocurrency market.