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Market Slips As BTC, CAKE, & Pepe Coin Decline After FOMC Minutes – Crypto News

Published

3 years ago

November 22, 2023

Dripp

The crypto prices today were in the red after the latest FOMC minutes seem to have forced the investors to trade cautiously amid the ongoing uncertainties in the market. Notably, the declines in most of the major cryptocurrency prices signaled a potential shift in the investors’ sentiment in the market.

Meanwhile, during their recent policy meeting, US Federal Reserve officials unanimously opted to maintain interest rates, expressing caution due to concerns about the impact on households and businesses, and pledging a vigilant approach to inflation control. However, the officials haven’t suggested anything possible rate cuts at the latest minutes, which seems to have weighed on the market sentiment.

In the current market scenario, the Bitcoin price fell 3% over the last 24 hours to $36,356.49 during writing, while its volume over the last 24 hours rose 31.46% to $27.20 billion. However, despite the recent loss, the crypto’s price added nearly 20% over the last 30 days.

In addition, the Ethereum price plunged 1.72% to $1,982.41 during writing, while its volume over the last 24 hours was up 10.65% to $14.32 billion. Simultaneously, the BNB price lost 11.14% and traded at $233.92 as of writing, while its volume surged 64.66% from yesterday to $2.51 billion.

The XRP price plummeted 3.72% to $0.5927 during writing, while the Solana price fell 3.43% to $54.05. On the other hand, the Cardano price noted a slump of 3.85% to $0.37 as of writing on November 22, while its trading volume soared 6.90% to $443.22 million at the same time.

The meme coin segment was also in the negative territory amid a slump in most of the top crypto prices. The Dogecoin price was down 3.89% to $0.07412 as of writing on Wednesday, with its trading volume soaring 20.42% to $846.02 million. On the other hand, the Shiba Inu price plummeted 5.05% to $0.000007999 at the same time.

The decline in most of the major crypto prices has also dragged down the performance of the overall crypto market. As of writing on November 22, the global crypto market cap plunged 2.90% to $1.38 trillion, while the total crypto market volume jumped 24.84% over the last 24 hours to $69.28 billion. Also, the market’s fear and greed index slipped to 67 from around 74 yesterday.

Also Read: BNB Coin Tanks 12% As Binance Sees ~$1 Billion Outflows, What’s Next?

The Top 4 Cryptos For Today Are

Pepe Coin (PEPE) Slips 4%

The Pepe Coin price plunged 4.07% and traded at $0.000001078 during writing on Wednesday, while its trading volume over the last 24 hours rose 5.48% to $103.77 million. The decline in the crypto’s price seems to be due to bearish sentiment in the broader meme coins segment. Notably, the crypto has lost nearly 7% over the last seven days.

Pepe Coin Chart

PancakeSwap (CAKE) Falls 11%

PancakeSwap was among the top percentage losers on November 22, reflecting the downturn sentiment in the broader crypto market. The PancakeSwap price was down 11.21% and traded at $2.40 during writing, while its volume over the past 24 hours surged 3.47% to $206.67 million.

FTX Token (FTT) Gains 14%

The FTX Token has gained traction in the market, amid a bearish trend noted in the overall market. The FTX Token price, being one of the top percentage gainers today, has added 13.69% to trade at $3.55 during writing, while its trading volume from yesterday skyrocketed 311.01% to $241.75 million.

Klaytn (KLAY) Soars 6%

Klaytn was another top percentage mover on November 22, defying the downturn sentiment in the broader market. The Klaytn price surged 6.05% to $0.1929 as of writing on Wednesday, while its volume soared 80.64% to $48.02 million from yesterday.