Crypto Price Today: Bitcoin falls below $26,700; Polygon, Polkadot decline up to 3%
Meanwhile, benchmark 10-year US Treasury yields touched a 16-year peak the day after Fed Chairman Jerome Powell warned inflation still has a long way to go before approaching the central bank's 2% target.
At 11 a.m., Bitcoin (BTC) was trading 1.62% lower at $26,620, while Ethereum (ETH) was trading below the 1,600 level.
Meanwhile, the global cryptocurrency market cap was trading lower, around $1.06 trillion, falling 1.50% in the last 24 hours.
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View Details»«Remarks by the US Feds on the monetary policy seem to have led to a sell-off within investors across markets, including crypto. The crypto fear and greed index has re-entered the fear zone after dropping 4 points since yesterday. The index currently stands at a score of 43/100,» said Parth Chaturvedi, Investments Lead, CoinSwitch Venture.
Meanwhile, Edul Patel, CEO & Co-founder of Mudrex, said, «Bitcoin traded sideways in the past 24 hours following the comments made by Federal Reserve Chair Jerome Powell on possible interest rate hikes. On the other hand, the market participants are also digesting the US benchmark 10-year note yields hitting 4.490%, the highest since November 2007.»
Other top crypto tokens were also trading lower on Friday. Polygon and Polkadot declined by 3%, while Solana, Cardano, Dogecoin, and Ethereum fell by up to 2%.
The total volume in DeFi is currently $65.01 billion, 26.77% of the total crypto market 24-hour volume. The volume of all
