Major U.S. indices are turning lower today in sync with global indices. The crypto market too has caught the fever with major names including Bitcoin (BTC-USD) and Ethereum (ETH-USD) down 3.54% and 6.3% respectively, today.
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The price decline puts Bitcoin below the crucial $30,000 level once again. Despite today’s decline, BTC and ETH are still up 75% and 63% respectively, so far this year.
Where the crypto market goes from here hinges on the crucial U.S. Fed meeting next month. A tightening in credit conditions could mean much-needed liquidity getting squeezed out of the markets and a consequent move downward.
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