Crypto Price Today: Bitcoin falls below $27,700; XRP, Tron tank over 7%

economictimes.indiatimes.com:

cryptocurrency markets were trading in the red on Thursday after the Federal Reserve unveiled a ninth straight interest rate hike. Bitcoin (BTC) fell 1.88% to $27,698, whereas Ethereum (ETH) was below the $1,800 level. BTC volume in the last 24 hours stood at approximately $32.36 billion, down 6.07%. «The 25 basis point anticipated interest rate hike and the associated hawkish messaging from the US Fed created volatility in crypto markets with Bitcoin (BTC) dropping 3% overnight,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. «BTC enjoys good short-term support at $26,500-$26,900 levels and a strong base at $25,300. If BTC holds any of these levels in the next week, the rally can potentially continue as the rate-hike ripple settles down,» Subburaj added.

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Other top crypto tokens were also trading lower on Thursday. XRP tumbled over 7%. Dogecoin, Cardano and BNB were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.16 trillion, falling 2.10% in the last 24 hours. The total volume in DeFi is currently 6.06 billion, 8.90% of the total crypto market 24-hour volume. The volume of all stablecoins is now $62.31 billion, which is 91.46% of the total crypto market 24-hour volume. The market cap of Bitcoin, the world's largest cryptocurrency, was around $535.76 billion. Bitcoin’s dominance is currently 46.23%, an increase of 0.11% over the day, according to