The price of Bitcoin and other cryptocurrencies remains down on Thursday (22). The crypto market was hit hard following the announcement by the US Federal Reserve about a further increase in the country’s interest rates.
Immediately after the announcement, Bitcoin even dropped more than 5 percent, reaching the $18,000 level. However, since then, the price of BTC has been recovering, but not enough to break out of the previous weekly loss.
According to CoinGecko, BTC was down 0.5% in the last 24 hours. The current price of BTC is $98.917, about $19,000.
Ethereum, the second largest cryptocurrency on the market, was also down 2.5% to BRL 6.727. In the last 7 days, the price of ETH has already fallen more than 20%.
Price of major cryptocurrencies today
Even after the Fed’s interest rate announcement, some cryptocurrencies were able to recover. According to CoinGecko, at around 9 a.m., there were many altcoins with a positive balance.
The price of stablecoins like USDT and USDC also saw a slight rise to $5.15.
The BNB coin, issued by Binance, dropped in position in the market, even though it had a positive balance in the last 24 hours. Now in fifth place and losing out to BTC, ETH and stablecoins, BNB has risen 0.9% to $1,389 in the last few hours.
Meanwhile, XRP is up another 7.2% in the last 24 hours, completing more than a 27% rise during this week. The current price of XRP is R$2.23.
The currencies Cardano (ADA), Solana (SOL), and Dogecoin (DOGE), on the other hand, are up about 1% in the last 24 hours.
The value of the global cryptocurrency market was trading much lower at $907.27 billion, falling more than 2% in the last 24 hours. However, the total trading volume increased by almost 33% to close to $90.85 billion.