In addition, Ethereum’s rivals Solana, Cardano, and Avalanche, have reduced by around 3%, while Ripple’s XRP and Terra’s luna lead the significant crypto markets lower.
The markets were thrown into chaos on Wednesday after the Federal Reserve announced that they would be hiking their interest rates.
economy could go into recession because of the interest rate hikes and the tightening of monetary policy.
Bitcoin, which usually moves along with the stock market, has been stuck in a narrow range all year.
Bitcoin is not the only thing that is struggling–the S&P 500 has also fallen to a new record low for the year.
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