Daily Times

Cryptocurrencies after a brief relief post the Fed rate hike on expected lines are again under pressure. Though at the time of writing this copy, the largest token has pared its early losses and last at around 3:00 pm (IST) was trading lower by a tad of 0.66pc at $21,040. Also, other cryptos by and large showing a mixed trend. Bitcoin-the most famous and largest crypto by m-cap has lost sharply from the all-time highs of $69K scaled in November last year. Notably the gains made in cryptos after the Fed rate hike have reverted to levels before the outcome announcement. But this likely isn’t the bottom yet, said Apifiny CEO Haohan Xu in a Coindesk report given the lack of bullish sentiment and worsening liquidity. The global crypto market cap is still maintained below $1t and last was down by over 1pc at $905.08b.