The upcoming Shapella hard fork in Ethereum has led to concerns that there may be some volatility in altcoin markets. Validators who staked Ethereum on the network’s consensus layer will be able to withdraw their funds after the hard fork, and this could result in significant selling pressure. Lenders such as Celsius are also set to recover funds by withdrawing approximately 158,000 staked ETH. Together, these withdrawals could lead to selling pressure of around $2.4 billion, which amounts to roughly one-quarter of ETH’s 24-hour trading volume. Altcoins are already down by 3% or more in the run-up to Shapella. However, analysts believe that a cooling US CPI could generate sustained Bitcoin and cryptocurrency rallies. Luno’s Country Manager for South Africa, Christo de Wit, has suggested that the crypto market has rebounded from the banking crisis and driven the price of Bitcoin above $30,000. A new video by Coin Bureau also highlighted the potential catalysts for the next crypto bull run, pointing out a rise in overseas interest in crypto assets, particularly in Asia.

Renowned economist Nouriel Roubini, dubbed "Dr. Doom," has warned that a credit crunch will tip the US into recession. In an interview with Fox Business, Roubini said the troubles of smaller US regional lenders face large outflows of deposits as customers with draw their money and take it elsewhere. Such banks are significant lenders to households and small businesses for mortgages, SMEs for commercial real estate, and therefore the likelihood of a credit crunch is great. He added that it would make a recession, a hard landing, much more likely than before, leading to serious problems for a significant portion of the US banking system. Eminent economist, Mohamed El-Erian, has supported Roubini's stance, saying the US economy is facing increasing odds of recession and stagflation after trouble in the global banking system over recent weeks. Investors are reeling over where to park their deposits and with whom to do business. With credit contraction playing out over the next several quarters and reaching its apex towards the end of the year or the beginning of the next year, the economy could bypass a recession as long as there are no policy mistakes.