Crypto Market Turmoil: Bitcoin Stagnates, Altcoins Sink Amid Industry Woes

Bitcoin remains stagnant around $29,200 as investors digest the impact of a U.S. Securities and Exchange Commission (SEC) lawsuit against Richard Schueler and his projects Hex, PulseChain, and PulseX, as well as the fallout from an exploit of stablecoin exchange Curve. Altcoins, including Ether, Solana, Tron, and Polygon, have experienced downward drifts following the HEX suit. Curve's native crypto, CRV, has dropped 12.5% to trade at 56 cents. Despite some larger-size buyers accumulating bitcoin during the recent price drop, the overall market sentiment remains in a holding pattern.