Market News

‘Keep Calm’—Fed Sparks $300 Billion Crypto ETF Price Crash, Hitting Bitcoin, Ethereum, XRP, Solana And Dogecoin - FORBES

APRIL 02, 2024

BitcoinBTC 0.0% and other major cryptocurrencies—including ethereum, XRPXRP 0.0%, solana and dogecoin—have crashed back (even as crypto price data shows the bitcoin halving could trigger a huge earthquake as soon as this month).

The bitcoin price has lost almost 10% over the last 24 hours, plummeting from over $70,000 per bitcoin to under $65,000. Ethereum has lost 8%, while solana is down 10% and the meme-based dogecoin is off by 13% despite Telsa billionaire Elon Musk teasing a huge X upgrade.

The latest price crash—wiping around $300 billion from the combined crypto market—comes as cash continues to flee Grayscale’s new spot bitcoin exchange-traded fund (ETF) and fears swirl that the Federal Reserve might hold off cutting interest rates—even as a leak suggests China could be about to blow up the crypto market.


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