Crypto Price Today: Bitcoin drops below $25,000, XRP, Litecoin experience significant decline of over 6%

economictimes.indiatimes.com:

cryptocurrency markets were trading in the red on Thursday after the US Federal Reserve left rates unchanged as anticipated but hinted at the possibility of more hikes later this year. Bitcoin (BTC) fell 3.7% to $24,918, whereas Ethereum (ETH) was below the $1,650 level. BTC volume stood at approximately $15.28 billion, rising 17.54% in the last 24 hours. «Bitcoin experienced a drop to $24,990, marking its first time hitting this level since March. This decline came in the midst of a turbulent week, triggered by a hawkish announcement from the Federal Reserve,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower. XRP and Litecoin fell by over 6%. Meanwhile, BNB, Dogecoin, Polygon and Polkadot traded with cuts.

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The global cryptocurrency market cap was trading lower around $1.02 trillion, falling 3.24% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $483 billion. Bitcoin’s dominance is currently 47.46%, a decrease of 0.11% over the day, according to CoinMarketCap. «Total crypto market cap has dropped by 3% overnight as the US Fed indicated possibilities of more interest rate hikes this year. Bitcoin is fighting to stay above $25,000 with major support around $24,000 if its corrective retracement plays out,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Rajagopal Menon, Vice President at WazirX said, «Major