Cardano price is seeing choppy price action following Wednesday's bullish influx. Wednesday’s FOMC decision to hike interest rates 75 basis points induced a speculative frenzy prompting intraday traders to hold on to their accumulated long positions. The "buy the rumor, sell the news" event triggered a supply vs. demand blitzkrieg, leading to a 21% bull rally into a daily high of $0.53 in just a few short trading hours.
Ethereum price continued its decline in the bloodbath this week. Experts argue Lido Finance’s stETH’s depeg from Ethereum has triggered a crisis and institutions like Celsius and 3AC witnessed massive liquidations.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Two events that will mark the end of the crypto-winter
Bitcoin price, Ethereum and other cryptocurrencies are set to trade sideways-to-lower after the US Central Bank confirmed its more hawkish rate path is going forward in order to bring inflation down. As it has become quite clear these past few weeks that cryptocurrencies are intermingled with the global financial system, there are only two factors now that are key to determining when the crypto-winter is likely to come to an end. The US job report on every first Friday of the month is one of these factors, in particular the expendable household income component, which has been getting smaller over the past few months, pointing to less available cash for investing in cryptocurrencies.
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