Hints at a continued interest rate hike in the Fed’s meeting minutes led to weakening sentiment in the market.
The momentum building in the crypto market for the last two days proved to be a false alarm when top cryptocurrencies again started flashing red post the release of the Fed’s meeting minutes. Bitcoin (BTC) continues to mirror S&P 500 movement to dip by 1.3% and is trading at $21.4k. Ethereum (ETH) is also down by 3% since yesterday and is trading at $1,652.
All the top cryptos witnessed losses, with the exception of Cardano (ADA) and Shiba Inu (SHIB), which saw a 2.9% and 0.4% rise in prices since yesterday. Cardano’s jump in prices comes ahead of its Vasil Fork and its ranking ahead of Bitcoin, BMW, and Nestle, among others, as the top platform in terms of brand intimacy.