Shortly after the US Fed’s announcement about pausing the interest rate hikes, bitcoin took a sharp turn south and dropped to a multi-month low.
Most altcoins are in even worse shape, with ETH, XRP, ADA, DOT, LTC, AVAX, and many others dumping by 5-7%.
BTC Slumps Below $25K
Last week didn’t go all that well for BTC, despite its recovery on Tuesday following the lawsuits from the SEC against Binance and Coinbase. As the weekend approached, bitcoin dumped once again from $27,000 to under $26,000.
The weekend itself was somewhat more positive as BTC stood at around $26,000. The first few days of the new week were similar, with the cryptocurrency trading at that level.
Then came the US FOMC meeting, in which Fed Chair Jerome Powell was expected to halt the monetary policy of increasing the key interest rates. This is what Powell indeed announced, but somewhat surprisingly, it had a negative effect on BTC’s price.
After remaining relatively still for the first few hours, BTC nosedived
We współpracy z: https://cryptopotato.com/eth-xrp-ada-ltc-nosedive-6-as-crypto-markets-shed-40b-daily-market-watch/
