Cryptocurrencies Dropped Instantly After US Fed Meeting - Bitcoin and Ethereum Renewed September Lows

A few minutes after the end of the meeting of the US Federal Reserve System, prices of all major cryptocurrencies fell in sync.

The Federal Reserve intends to tighten its policy on digital currencies. In parallel with this, risky assets began to interest investors less and less. This led to an even greater subsidence of the cryptocurrency market after recent fall against the backdrop of the suspension of mining farms in Kazakhstan.

Bitcoin and Ethereum renewed their September lows. On January 7, the value of Bitcoin fell below $ 41,000. The price of Ethereum fell to $ 3,111. The last time cryptocurrencies cost how much at the end of the third quarter of last year.

In general, the first week of 2022 was unsuccessful for the market. In seven days, the value of all cryptocurrencies from the top ten in terms of capitalization fell by more than 10% (with the exception of USD Coin and Tether). HEX is "in the lead" on this indicator - -24.75% per week, taking into account the growth of 5% over the last 24 hours.

A source: Reuters