Bitcoin, Ethereum And Others Fall After Fed’S 75 Bps Rate Hike

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Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 0.7 percent to $20,322. Its market value stood at $390.4 billion. The trade volume was at $55.8 billion.

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“The price of Bitcoin has slid below the $20,500 level in the past 24 hours. If bulls can hold on to BTC, keeping it above the current level today without dropping, we might see an upward trend. BTC’s support now lies at $19,500, while the resistance holds at $21,000,” said Edul Patel, CEO and co-founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, slipped 2.5 percent to $1,547.9 with a market capitalisation of $189.6 billion. The trade volume of Ethereum was $24.2 billion in the last 24 hours.

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On Ethereum, Patel said, “Ethereum, fell by two percent over the past 24 hours, also losing its weekly gains. However, ETH has not gone below the $1,500 level. The US Fed’s decision to raise interest rates has caused volatility in the market..”

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Dogecoin | Meme-based virtual currency, Dogecoin, plunged almost five percent on Thursday. Its market value stood at $17.5 billion. The trade volume was at $3.9 billion.

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Solana | Solana fell 0.7 percent to $31.8 with a market capitalisation of $11.4 billion. The trade volume of Solana was $1.3 billion in the last 24 hours.

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Shiba Inu | Shiba Inu fell 1.5 percent with a market capitalisation of $6.7 billion. The trade volume was $593.4 million in the last 24 hours.

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Polygon | Polygon jumped 11.4 percent to almost $1 with a market capitalisation of $8.4 billion. The trade volume was $920.5 million in the last 24 hours.