Fed Rate Hike Fears Send Crypto Market into Tailspin

The crypto market is under pressure due to growing expectations of a U.S. Federal Reserve interest rate hike, which has weighed on investor sentiment.

Bitcoin, the largest digital asset by market capitalization, has retreated from recent highs and is currently trading near $67,500, down approximately 3% over the past 24 hours.

The decline mirrors moves in equity futures and bond yields, underscoring the extent to which crypto markets remain tethered to conventional financial conditions.

However, not all altcoins are feeling the pinch; TAO and Cardano's ADA have managed to sustain their gains, signaling a selective risk appetite among traders.