Bitcoin (BTC) reached a high of $28,016.59 in the last seven days.

Bitcoin (BTC) and Ethereum (ETH), two of the world’s most popular cryptocurrencies, have seen significant price drops in the last week, despite relatively robust figures in the US jobs report and a positive resolution to the debt ceiling impasse. The Reserve Bank of India (RBI) will meet this week for its Monetary Policy Committee (MPC), and it is unclear whether the central bank will make any new announcements on crypto regulation and trade in the country. Despite a much-publicized introduction on Binance a few weeks ago, Memecoin PEPE has been in freefall in terms of prices for several weeks.

Before we continue, readers should be aware that the general crypto market and coin prices are quite volatile. There are no surefire strategies for predicting how cryptocurrencies will behave in the future. This article is intended to help investors stay current on market scenarios and major events that have already occurred, as well as some impending events worth mentioning. Before making any investment decision, investors should conduct their own research.

Crypto Prices Over The Past Week

The global crypto market cap was $1.17 trillion on Monday (May 29). The price of BTC was around $28,061.25, and the price of ETH was around $1,905.60. According to CoinMarketCap data, the global market cap fell to $1.13 trillion a week later.

Check Out Today’s Top Crypto Prices

DeFi’s total volume is $2.25 billion, accounting for 8.84 percent of overall market 24-hour volume. In the case of stablecoins, the total volume is $23.51 billion, accounting for 92.46 percent of the total 24-hour market volume. At the time of writing, BTC had 45.87 percent of the market. Bitcoin has reached a high of $28,016.59 (on May 30) and a low of $26,716.99 (on June 1) in the last seven days, indicating a bear run. In contrast, Ethereum reached a high of $1,916.34 on May 30 and a low of $1,852.16 on June 1.

Notable Crypto Events

Coinbase Derivatives Exchange has launched Bitcoin and Ether futures contracts. This is a significant step towards fulfilling the special needs of institutional investors in the volatile digital commodity market. The successful introduction of nano Bitcoin (BIT) and nano Ether (ET) contracts has resulted in a significant surge in institutional interest in the exchange. This increased demand has spurred the need for more complex derivative products. Furthermore, all eyes will be on the upcoming release of details from the US Federal Open Market Committee (FOMC), which is likely to have a substantial impact on coin prices.

The RBI’s MPC is scheduled to convene from June 6 to June 8. Because India is actively engaging in global crypto regulation negotiations as part of its G20 chairmanship, dealers and investors in the country will be watching for any major news on the virtual digital assets (VDAs) front.