“This seems to be like a non-macro-related spot-based transfer, and the timing coincides with the information that Hong Kong will permit retail buying and selling of BTC and ETH on licensed digital asset platforms as of June 1,” Noelle Acheson, writer of the Crypto Is Macro Now publication, mentioned in Tuesday’s version. “This isn’t a complete shock – the ruling and the timing have been largely anticipated. However affirmation issues extra in a lacklustre market with headwinds coming from different vectors,” Acheson added.
