Crypto
Crypto Markets Tumble Ahead of Fed Meeting Amid Rate Hike Bets
Cryptocurrency markets are struggling to regain traction ahead of the upcoming September 16 Federal Reserve meeting. Major tokens, including Bitcoin and Solana, have fallen in value over the past week.
According to data from Stocktwits, Zcash is an exception, having increased by 8.6% on the week despite a recent pullback. The token's price currently stands at $76,815.
The FedWatch Tool estimates a roughly 70% chance of a rate hike at next week's meeting. Tom Lee, Fundstrat's co-founder, believes that even if rates do rise, the markets may rally as bad news is already priced in.