Cryptocurrencies Bleed Again, Bitcoin Price Plunges 10% (Wednesday, June 15, 2022)

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Viva Budy Kusnandar 15/06/2022 17:10 WIB

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Major cryptocurrencies such as Bitcoin, Tron, and Ethereum have plummeted more than 10% in the last 24 hours.

The Fall of Large-Cap Crypto Assets (June 15, 2022*)

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The Fall of Large-Cap Crypto Assets (June 15, 2022*)

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Crypto assets have again experienced a "bloodbath" ahead of the release of the results of the Federal Reserve/The Fed's Board of Governors meeting.

High inflation has raised concerns among investors that the US central bank will aggressively raise its benchmark interest rate. At last month's meeting, the Fed raised its benchmark interest rate by 50 bps to 1%.

This anxiety has caused investors to shed assets considered risky during interest rate hikes, shifting their investments to safer assets such as the US dollar. As a result, cryptocurrency prices have fallen again in today's trading.

Based on Coinbase data, the cryptocurrency market plunged 9.7% in the last 24 hours until Wednesday, June 15, 2022, at 4:03 PM WIB.

The price of Bitcoin (BTC) plummeted 10.59% to Rp297.06 million per coin in today's trading. This cryptocurrency barometer has cumulatively plunged more than 32% in the last week.

Similarly, the price of Tron (TRX) plunged 17.71% to Rp742.39 per coin. This is the steepest decline among crypto assets.

Ethereum corrected by 15.53% to Rp217.35 million per coin, followed by Avalanche (AVAX) which fell by 12.01% to Rp217,350 per coin.

BNB (BNB) corrected by 11.37% to Rp2.96 million per coin, Dogecoin (DOGE) fell 10.53% to Rp745 per coin, and Solana (SOL) plummeted 10.44% to Rp397,200 per coin.

Cardano (ADA) fell 9.19% to Rp6,730.88 per coin. Shiba Inu (SHIB) fell 7.69% to Rp0.11 per coin, and Polkadot (DOT) fell 7.32% to Rp101,160 per coin.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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