Global Crypto Markets Enter Panic Mode Ahead of Fed Meeting Decisions

Crypto markets are anxiously awaiting news on policy, even as the Fed meeting holding today will begin discussions at 2 pm Eastern time. And with the discussions expected to be centered around inflation, interest rates, as well as purchase tapering, crypto markets are all running already, despite all the uncertainties.

Crypto markets panic ahead of fed meeting

Per data from MarketWatch, Bitcoin, BTCUSD, -2.67% has dipped more than 30% from its November all-time high of $68,000, presently trading at $47,001 at press time. Ether, ETHUSD, -3.48% is also down by more than 20% from its record high of $4,865.6, trading at $3,720 at the time of writing.

The shadow of uncertainty has not left out, the altcoin markets. In fact, the panic might even be more pronounced here.

Even Dogecoin (DOGE) that is still reeling from the publicity of TESLA, is down 9% on the day.