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On the evening of March 22, while the cryptocurrency market was waiting for the outcome of the Federal Reserve meeting to be announced, the bitcoin price BTC $64,090.71 Bitcoin -0.36% Market capitalization $1.29 trillion VOL. 24 hours $0.94 billion came close to $ 29,000. However, after the Fed raised the key policy rate range by 25 basis points to 4.75−5% per annum, the digital asset fell by $ 2,000. Thus, the bitcoin rate dropped to $ 26,900.
In the future, the market expects another rate increase by another 25 basis points to 5−5.25% per annum. Among the surveyed analysts, 49.4% of respondents think so. Experts estimate the possibility of keeping the rate at the current level at 43.8%, and a 25 bps cut at 6.8%. The next Fed meeting is scheduled for May.
As of the morning of March 23, bitcoin was trading at an average of $ 27,656 with a market capitalization of $ 5.47 billion. Over the day, the flagship asset dropped by almost 2%. The daily trading volume is $ 5.47 billion.
The leading altcoin ETH $1,907.80 Ethereum 1.11% Market capitalization $230.24 billion VOL. 24 hours $0.36 billion is currently trading at $ 1,752, which is 2.7% lower than yesterday. Ethereum’s market capitalization is $ 211 billion. Traders made daily trading deals worth $ 1.6 billion.
In turn, the BNB token fell by 4.58% to trade at $ 323. The ADA rate has dropped by 4.43%, and the asset costs $ 0.36. The XRP token fell by 7.2% and is available for purchase for $ 0.43.
In general, the global market capitalization of cryptocurrencies decreased by 2.1% per day to $ 1.2 trillion. The daily trading volume of digital assets totaled $ 81.7 billion.