The crypto market is experiencing a turbulent period as Bitcoin's price plummeted to nearly $96,000, failing to maintain crucial support levels. As a direct consequence, Ethereum saw a significant drop of 8.97%, trading at $3,348.
Ripple's XRP and Solana both faced setbacks with losses of 4.25% and 9.12%, respectively. The downward trend didn't spare other popular cryptocurrencies as Dogecoin and Cardano both endured major pullbacks, exceeding 10% and 9% respectively. The release of the FOMC minutes seems to have exacerbated the situation by injecting more uncertainty into the market.