Today, a tense atmosphere dominates the cryptocurrency market. Bitcoin (BTC) 
$97,913 approaches its monthly low, drawing attention from market participants. A similar decline is observed among altcoins, though the overall market sentiment reflects a bullish trend.
Tether Faces Risks in Europe
The prominent stablecoin Tether (USDT) struggles with compliance issues regarding the new European Crypto Assets Market (MiCA) regulations. The deadline for adhering to these rules is set for December 30, 2024. However, Tether’s current structure poses a risk of removal from European markets. Experts suggest that this situation creates uncertainty, complicating investor decisions.
The potential withdrawal of Tether from European markets signifies a significant shift in the stablecoin ecosystem. This development may particularly impact liquidity planning for major cryptocurrency exchanges. Investors are contemplating alternative stablecoins amid this uncertainty.
FTX Token Experiences a Resurgence
FTX Token (FTT) stands out today with a 7% increase in value. This rise follows FTX’s announcement of a $16 billion cash refund plan, which is expected to commence in January 2024. This initiative indicates that FTX is regaining investor confidence despite prior challenges.
Following this activity in FTT, investors anticipate a positive wave throughout the market. However, experts emphasize the importance of closely monitoring FTX’s plan execution stages.
What Do Market Data Indicate?
The global cryptocurrency market has declined by 1.5% in the last 24 hours, totaling $3.29 trillion. Conversely, daily trading volume has increased by 12%, reaching $90 billion. Bitcoin is trading at $93,400, while Ethereum (ETH) 
$3,636 has risen by 1% to $3,421, and XRP has dropped by 3% to $2.12.
FTT is the day’s top gainer, while Bitget Token (BGB) recorded a notable 20% loss. Investors are adopting a cautious approach towards these market fluctuations, with regulatory impacts and the price movements of major cryptocurrencies emerging as critical factors influencing future market trends.
