Diksia.com - Cryptocurrency trading reportedly plummeted over the past 24 hours, including Bitcoin, with prices dropping to 1 on Thursday (June 15, 2023) It recorded a drop of 3.90% before dropping to around US$24,882 per coin.
Compared to the price in early June, when 1 BTC coin was pegged at US$28,956, it has fallen significantly.
Following Bitcoin, many other major crypto assets also suffered price declines, including Ethereum, which fell 6.05% to $1,634 per coin.
Tether and BNB followed suit, dropping to near $0.9973 and $235.08 respectively.
The Cardano coin movement also saw a red report card, with the price dropping 1.32 percent to $0.255. Meanwhile, the price of Dogecoin fell by 2.78 percent, or US$0.05999 per coin.
The day’s drop in crypto trading was due to a negative reaction from investors after the Fed announced plans to raise the base rate to its highest level at its two meetings next month. .
The aggressive stance taken by the Fed was initially aimed at bringing inflation down to below 2%, but unfortunately this tightening has caused cryptocurrencies to no longer be considered investment assets, triggering a bear market. There is even a thing.
Such a situation loses the confidence of cryptocurrency investors and prompts them to withdraw from the digital asset market. Until the cryptocurrency price crashed in trading this morning.
“Given the extent of policy tightening, the uncertain pace of monetary policy affecting the economy, and the potential strong winds of tightening credit, we will leave the policy rate unchanged today,” said Federal Reserve Chairman Jerome Powell. decided,” he said.
It is not clear how long crypto investors will remain in wait-and-see mode, but based on historical market data, the global crypto market is currently down 3.80 percent from the previous week to US$1.02 trillion. reportedly slumped.
