Ethereum was also trading 2 percent lower, falling below $1,800 levels, as Bitcoin continued to deteriorate, falling 2% to slip below the 29,000-mark.

Following the traders’ frightened reaction to the US Fed meeting minutes, Bitcoin and other popular crypto tokens plunged on Thursday. The minutes of the July US Fed meeting lowered investor optimism globally and warned that the US central bank could need to raise rates again.

As the largest cryptocurrency token fell as much as 2% and once more fell below the 29,000 level, Bitcoin lost more ground. Following the most recent dip, Ethereum, its largest peer, was also trading 2% lower, falling below $1,800 levels. The biggest altcoins’ price movements were on the lower side.

The price of bitcoin has risen past $28,500. This might be a result of the Argentine Peso and the Russian Ruble losing value against the US dollar. Ethereum is currently trading just below the $1,800 mark, breaking away from its previous pattern of fluctuating between $1,800 and $1,900.

On Thursday, the prices of all other prominent cryptocurrencies declined. Shiba Inu lost more than 8% of its value, while Litecoin lost more than 5%. Dogecoin lost 4% of its value, while Toncoin, XRP, and BNB all experienced a 3% decline. The price of Solana decreased by 2% in the early trading period.

The market capitalization of all cryptocurrencies was trading noticeably lower, dropping to the $1.14 trillion mark after sliding about 2% in the previous day. The total trade volume did, however, increase by more than 19% to $36.82 billion.

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