The Federal Reserve raised its inflation expectations, Bitcoin failed to stop falling, and Ethereum continued to be weak

On Wednesday, the Federal Reserve announced that it would maintain its loose monetary policy, but significantly raised its inflation forecast for the fourth quarter of 2021 to 3.4%. The crypto market failed to get a boost, and Bitcoin fluctuated and lacked upward momentum, falling 3% to around $38,000; Ethereum fell further, falling below $2,500, a drop of nearly 5%. Except for stablecoins, the top ten cryptocurrencies by market value fell across the board.

The current total market value of the cryptocurrency market is $1,648,968,676,901, with a 24-hour trading volume of $204,021,851,387. Bitcoin accounts for 43.90% of the market. In the past 24 hours, three of the top 20 cryptocurrencies by market value rose, and 20 of the top 100 cryptocurrencies by market value rose. The top three increases were: Flexacoin (79.96%), Amp (21.51%), and Quant (12.98%). The top three decreases were: NEM (-7.20%), Internet Computer (-6.89%), and Polygon (-6.79%).

According to Bitcoin News, the current price of Bitcoin, which ranks first in the cryptocurrency market value, is $38,639.16, with a total market value of $723.96 billion, down 3.21% in 24 hours. The highest price is $40,342.93 and the lowest price is $38,472.87.

According to Bitcoin News, Ethereum, the second largest cryptocurrency by market value, is currently priced at $2,404.44, with a total market value of $279.678 billion, down 5% in 24 hours. The highest price is $2,559.18 and the lowest price is $2,389.07.

According to BitTorrent, the current price of XRP, which ranks 7th in the cryptocurrency market value, is $0.841847, with a total market value of $38.898 billion, down 2.96% in 24 hours. The highest price is $0.870005934, and the lowest price is $0.8281030466.

In the past 24 hours, the top 10 cryptocurrencies in terms of trading volume among the top 100 cryptocurrencies by market value were: USDT (US$78.233 billion), BTC (US$43.518 billion), ETH (US$26.458 billion), XRP (US$3.430 billion), ADA (US$3.014 billion), BNB (US$2.248 billion), DOGE (US$1.999 billion), DOT (US$1.815 billion), USDC (US$1.128 billion), and UNI (US$409 million).