Cryptocurrency prices today under pressure: Bitcoin falls 3%, Ether 6%; Uniswap gains: Crypto News

Introduction 

After the US Central Bank announced yet another significant increase in borrowing fees today, the value of the digital currency was put under pressure. Additionally, it forewarned of impending financial pain due to forced agreement modification. The Federal Reserve’s pledge to hike rates to levels that choke off growth at the expense of falling resource costs sent a shiver across all global economic sectors.

Bitcoin falls 3%, Ether 6%; Uniswap gains

The world’s largest and most well-known cryptocurrency, Bitcoin, was trading over 2% lower at $18,627 and was on the edge of falling below the $18,000 mark. In the late Wednesday trading, the prices of Bitcoin, Ethereum, and most digital currencies fell. This happened following the Federal Reserve’s third consecutive increase in financing charges this year, which was 75 basis points. Bears are more impressive than bulls on the lookout. Therefore BTC keeps battling beneath the $19,000 level. Ethereum, the second-largest cryptocurrency, was spotted transacting beyond the $1,200 mark.

According to CoinGecko, the market capitalization of all digital currencies fell below the $1 trillion threshold today, falling more than 2% to $943 billion. However, there is Ether, the coin linked to the Ethereum blockchain. Additionally, the second-largest cryptocurrency failed to live up to expectations and dropped more than 6% to $1,260. Excavators continued to dump their ETH on the market, combined with macroeconomic factors, which caused the merger, further pushing the price of ETH to fall.

Edul Patel, President and Prime Supporter of Mudrex, predicted that if the selling pressure from diggers intensifies, ETH will likely drop below the $1,000 mark. The dogecoin price was trading about 3% lower today, at $0.05. On the other hand, Shiba Inu dropped more than 1% to $0.000011. XRP, Heavenly, Solana, Polygon, Torrential Slide, Binance USD, Polkadot, and other prices were trading with decreases over the past few hours, but fortunately, Uniswap has gained in the recent hours.

Conclusion

The crypto markets have limited opportunity for relief in such a situation. They were reeling from a $2 trillion decline from a 2021 record, an outcome distinguished by successes like the Three Arrows Capital complex investments. The experts also require the Terraform Labs project, which includes co-founder Do Kwon.