Bitcoin and altcoins lose more ground after comments from the Federal Reserve suggest that the regime of interest rate hikes could continue into 2024.
The price of Pepe has plummeted 15% after developers sent nearly 4% of the memecoin’s total supply to exchanges without warning.
Bitcoin and altcoins perked up today, but is this rally nothing more than an oversold bounce?
Memecoins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps?
Even altcoins slumped, with only Ripple and Cardano registering inflows.
Bitcoin is searching for stability in the $25,000 zone. Meanwhile, HBAR, OP, INJ and RUNE price looked primed for further upside.
The DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past week, just weeks after the Curve Finance exploit.
Bitcoin and most major altcoins are reeling under intense selling, and charts suggest that the market sell-off is not complete.
XRP price is down today, like other top crypto assets, as traders digest the most recent comments from the Federal Reserve.
Litecoin’s price is down today, partly due to the “sell the news” sentiment following its Aug. 2 halving.