In that sense, the Bitcoin falls 4.6% to $43,700. For its part, Ethereum falls 6.6% to $3,200. As for the altcoins, they are trading with losses of up to 11% led by Solana and Avalanche (6%).
This news comes on top of the latest statement from the Fed’s Lael Brainard who mentioned the possibility of a balance sheet reduction “at a rapid pace”: “Currently, inflation is too high and subject to upside risks. The Committee is prepared to take stronger action if inflation indicators and inflation expectations indicate that action is warranted.
For her part, the president of the San Francisco Fed, Mary Daly, has said at an event organized by the Native American Finance Officers Association that “inflation is as harmful as not having a job.” Having a job and not being able to pay your bills, or feeling like you can’t save for what you need to do… That keeps you up at night and our goal is to make sure people don’t stay awake worrying if their credit dollar today it will be the same and it will be worth a dollar tomorrow,” he concluded.
A separate mention deserves Dogecoin that continues with its advance although more moderate, around 2% where it already accumulates 9% gains in the last seven days. In that sense, the “meme” cryptocurrency corrects its rally after hitting a two-and-a-half-month high on Tuesday, above $0.17. Fans of the coin inspired by the ‘meme’ of a dog of the Shiba Inu breed continue to celebrate after the recent purchase of 9% of Twitter by the founder of Tesla, Elon Musk and have launched to speculate on greater links between cryptocurrency and social network.
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Source: Ambito
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