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Crypto

Fed Rate Hike Sends Cryptocurrency Market into Downturn

Guavy AI Editorial Team
Instruments
BTC ETH SOL XRP ZEC
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The Federal Reserve's decision to raise the Federal Funds rate by 25 basis points has had an impact on the cryptocurrency market, causing Bitcoin and Ethereum to dip in value. The price of Bitcoin is hovering around $75,854 while Ethereum is at $2,403.

According to Coinglass data, a total of 101,811 traders were liquidated in the past 24 hours for $455.24 million. This indicates a significant amount of selling pressure on the market.

Solana and XRP also saw price drops, with Solana at $98.02 and XRP at $1.28. On the other hand, some cryptocurrencies such as Zcash, Bitway, and Dash saw gains in the past 24 hours.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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