Al-Mushafara dips on rate hike fears
Cryptocurrencies have significantly declined due to market anticipation of the U.S. Federal Reserve's decision and the pressures associated with raising interest rates. Bitcoin fell by 2.78% to $76,900, Ethereum by 2.6% to $2,475, Solana by 2.45% to $100.70, and Ripple by 4.25% to $1.40. The pressures are exacerbated by the decreasing hopes for the approval of regulatory laws for digital assets, such as the "Clarity" bill, as well as weak institutional demand and capital outflows from investment funds, amid geopolitical tensions and global unrest affecting financial markets.
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