Bitcoin, Ethereun, tokens and cryptocurrencies, traded lower again on Wednesday (21), as investors await an answer on a new interest rate hike in the United States. The expectation among investors is for a further 75-point increase in the base interest rate by the Fed, which could impact asset yields and the appreciation of the US currency.
According to CoinGecko, Bitcoin once again hugged the $18,000 level overnight. By this morning, BTC was struggling to hold above $19,000, but was still trending lower for the day.
In just 24 hours, the price of Bitcoin was down 1.5% to $98,380. In the past week alone, BTC has fallen more than 6%.
Meanwhile, Ethereum was also facing difficulties. Even after The Merge, investors are still struggling to make profits on ETH. According to CoinGecko, the currency that has already dropped more than 15 percent in recent days and was selling for $6,926 at around 9 a.m.
The price of stablecoins like USDC, USDT and BUSD also fell 0.5% to R$5.15, along with the price of the commercial dollar.
Price of major cryptocurrencies today
While awaiting the Fed’s official announcement, altcoins and gaming tokens have also entered a major bearish cycle. Among the major ones on the market, most were showing losses around 9am this Wednesday morning.
Going against the market trend are the XRP and Cardano (ADA) coins, which have posted profits over the past 24 hours. While XRP rose more than 4% to $2.07, ADA registered a slight rise of 0.6%. Besides them, Dogecoin (DOGE) managed to remain stable in the last 24 hours, holding a daily rise of about 0.2%.
The BNB, Solana (SOL), Shiba Inu (SHIB), Polkadot (DOT), Polygon (MATIC), and Avalanche (AVAX) coins suffered losses ranging from 0.6% to 3%. In addition, play-to-earn gaming tokens and DeFi coins such as APE, SAND, AXS and CHZ suffered losses of up to 5%.
The value of the global cryptocurrency market was trading marginally below $926.78 billion, falling about half a percent over the past 24 hours. However, total traded volume was down more than 9 percent, near $67.86 billion.