Cryptocurrency Price Today: Bitcoin, Ethereum, Most Altcoins See Bloodbath Following Latest US Fed Rate Hike
Bitcoin (BTC) and Ethereum (ETH), the world’s most valued and second-most valued cryptocurrencies, found themselves in the reds following a US Federal Reserve interest rate hike for the third consecutive time this year. Other popular altcoins, including the likes of Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL), registered notable dips as well. Among lesser-known altcoins, the Celsius (CEL) token emerged to be the biggest gainer in the last 24 hours, while the EOS (EOS) token turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $906.58 billion, marking a 2.14 percent dip in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
Bitcoin price stood at $18,374, seeing a 24-hour dip of 1.44 percent, as per CoinMarketCap. As per Indian exchange WazirX, BTC price stood at Rs 15.99 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,263.47, marking a 24-hour dip of 5.63 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.08 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 3.01 percent as per CoinMarketCap data, currently priced at $0.05742. As per WazirX, Dogecoin price in India stood at Rs 4.88.
Litecoin (LTC) price today
Litecoin saw a 24-hour loss of 1.21 percent. At the time of writing, it was priced at $51.75. LTC price in India stood at Rs 4,430.
Ripple (XRP) price today
XRP price stood at $0.4023, seeing a 24-hour dip of 0.84 percent. As per WazirX, Ripple price stood at Rs 33.21.
Solana (SOL) price today
Solana price stood at $30.94, marking a 24-hour dip of 2.75 percent. As per WazirX, SOL price in India stood at Rs 2,690.
Top crypto gainers today (September 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 8.36 percent
24-hour gain: 7.49 percent
24-hour gain: 5.10 percent
24-hour gain: 4.40 percent
24-hour gain: 3.25 percent
Top crypto losers today (September 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 11.30 percent
Curve DAO Token (CRV)
24-hour loss: 7.13 percent
Terra Classic (LUNC)
24-hour loss: 6.87 percent
24-hour loss: 6.84 percent
24-hour loss: 5.53 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin, Ethereum, and most cryptocurrencies slid lower late Wednesday after the Federal Reserve raised interest rates by 75 basis points, marking the third consecutive time this year. Even though Bitcoin rebounded to $19,500 earlier in the day, it again fell to the $18,500 level as bears became more powerful with increasing selling pressure. If BTC can hold above the $19,000 level, we may see upward growth. The second largest crypto, Ethereum, was seen changing hands above the $1,200 level. The price of ETH has been dipping since the Merge took place as miners continue to dump their ETH in the market coupled with macroeconomic factors. If the selling pressure from miners increases, ETH is likely to fall below the $1,000 level.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The slight bullishness seen on Tuesday has stripped away as soon as it came, as by the end of Wednesday close to 40 percent of the top 100 coins and tokens ended in the red zone with an average fall of 1-3 percent, whereas, rest of the coins and tokens gained an average of 2-5 percent in last 24 hours. Ethereum-based token CEL gained approximately 10 percent in the last 24 hours and lost 6.5 percent in the last 7 days. This kind of volatility was expected after the merger and more of such can be expected in the upcoming week as well.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “Crypto markets were choppy as they reacted to the US Federal Reserve’s decision to hike interest rates by 0.75 percentage points. With the news, the global crypto market fell below expectations to $900 billion. Meanwhile, during Asia trading hours, Bitcoin was trading at $18,500 and Ethereum at $1,250, a decline of 2.4% and 6.2%, respectively, in the last 24 hours. Other cryptocurrencies including Solana, Cardano, and Terra Classic saw a similar fall. The trend also showcases the connection between the global stock markets and crypto markets that are reacting similarly to the interest rate hikes.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.