Today's cryptocurrency events: what did the market bring?

Today's cryptocurrency events: what did the market bring?

If you're interested in the latest news from the world of cryptocurrencies, we have a summary of the important events and trends currently impacting the market. Today, we'll be focusing in particular on the price developments of bitcoin, ether, as well as the situation surrounding blockchain, DeFi, NFT, Web3 and regulation in this area.

Ether price plunges as traders await Federal Reserve decision

Today we see a significant drop in the ether price, which has fallen to a level comparable to the end of January. The price is being pushed down not only by nervousness in the market, but also by the upcoming announcement of a possible interest rate cut by the Federal Reserve later this week. Both Bitcoin and Ethereum are facing a wave of panic, which is reflected in the price values.

Over the past 24 hours, the price of Ether has fallen by 6%. From an intraday high of $2,425 recorded on September 15, it has fallen to $2,260 on September 16. The ETH/BTC ratio is now at its lowest level since April 2021, hitting 0.038 on September 16, according to the TradingView platform.

There has also been a wave of "FUD" (Fear, Uncertainty, Doubt) aimed at Ethereum on social network X, with analysts and cryptocurrency watchers actively commenting on it. The developer of Ethereum, known as antiprosynthesis, pointed out in his post on X that at least half of his news feed is now focused on this negative news.

Other important events

Meanwhile, other interesting developments are taking place on the political scene. Brazil's top prosecutor has defended the banning of the X platform in the country, sparking debates about freedom of expression and technology regulation. On the other side of the cryptocurrency sphere, MicroStrategy decided to invest $1.11 billion in buying bitcoins, reaffirming its strong commitment to cryptocurrencies.

Now we wait to see what direction the cryptocurrency market will take next, especially in light of the Federal Reserve's upcoming decision. The situation is tense and the market remains in anticipation. Let's see how these events will affect cryptocurrency prices in the coming days.

Team Coingarage