Cryptocurrency Prices Decline Amid FED Skepticism and Market Uncertainty

The cryptocurrency market is experiencing a downturn, with significant price drops in Bitcoin, Ethereum, and Dogecoin. Despite an earlier recovery, these assets are now under renewed pressure due to macroeconomic uncertainties and internal market factors.

Impact of FED Policies on Crypto Prices

Recent skepticism over the Federal Reserve's interest rate policies is impacting crypto prices.
Federal Reserve Bank of Minneapolis President Neel Kashkari highlighted economic resilience, casting doubt on further rate cuts.
This uncertainty has led to sharp declines in Bitcoin, Ethereum, and Dogecoin prices.
Large-scale whale sell-offs and concerns about a potential US government shutdown have exacerbated the situation.

Market Impact and Price Declines

Bitcoin: Fell below $97,000, dropping over 5% for the week and 6.4% in one day.
Record levels of BTC selling by long-term holders are contributing to the downtrend.
Institutional demand is weakening, with Spot Bitcoin ETF activity showing large net outflows.
Ethereum: Lost 10% in 24 hours and over 5% this week.
ETH price stands at $3,200, down more than 35% from its ATH.
Dogecoin: Trading at $0.165, falling approximately 2.3% during the week and 8% in one day.

The widespread declines suggest the market is experiencing extreme stress, with all three cryptocurrencies recording double-digit monthly losses.

Bitcoin