Crypto Prices Today Embark on a Concerning Bearish Trajectory After FOMC Meet

The crypto prices today have embarked upon a concerning bearish trajectory following the recent U.S. FOMC meeting wherein the Federal Reserve kept interest rates unchanged at 5.25%-5.50%.

Cryptocurrency prices took a hit on Wednesday after the U.S. Federal Reserve kept interest rates unchanged following its two-day meeting.

The apex crypto slid to a $63K low over the past day, while ETH, SOL, and XRP prices mimed a downside price action.

The global crypto market cap also plunged 3.42% to $2.3 trillion on Wednesday, with total crypto market volume increasing by 18.85% to $74.68 billion over the past day.

Here's a look at some of the top crypto prices and their changes over the past 24 hours, as of 08:15 ET on August 1, according to CoinMarketCap.

CRYPTO PRICES NOW

Bitcoin Price

Bitcoin price encountered selling pressure as the FOMC met on July 31 concluded. At press time, BTC was trading at $63,977.60, down 3.20% in the past 24 hours. Its 24-hour lows and highs were recorded at $63,746.01 and $66,810.21, respectively.

The new lows come after massive BTC accumulations were recorded recently and sparked investor concerns with the crypto’s bearish turn post-FOMC. However, with September rate cut expectations, long-term prospects appear optimistic.

Moreover, Bitcoin's market dominance saw a 0.10% dip to 54.79% on August 1. Also, BTC liquidations soared to $56 million today, sparking additional discussions post-FOMC.

Ethereum Price

ETH price slipped 3.47% in the past 24 hours to reach $3,180.86. 24-hour lows and highs were recorded at $3,173.48 and $3,347.64, respectively.

The ETH price fell in line with the broader market sentiment and the Fed's dovish stance, with the crypto's price movement being largely dictated by the broader market forces at present. Additionally, despite the recent inflows into ETH ETFs, a bolstered movement is yet to be seen.

Solana Price

Solana price saw a 6.99% decrease in value today, trading at $167.45 at press time. 24-hour lows and highs were recorded at $168.75 and $184.18, respectively.

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