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Ethereum plunges 13%, down more than Bitcoin after Fed spooks crypto markets -Breaking

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© Reuters

Ethereum’s native token, Ether (ETHHours after the United States Federal Reserve, ), it plunged dramatically Minutes releasedIts December meeting showed that it is aiming for a quicker timetable to raise interest rates by 2022.

The minutes Shown that the Federal Open Market Committee (FOMC) is in favor of raising short-term rates “sooner or at a faster pace than participants had earlier anticipated.” According to the CME Group (NASDAQ:), trading in the interest-rate futures market showedThere is a chance of a second increase in March by two thirds.

Chart of the price over four hours Source: TradingView
Performance of top 15 cryptos. Source: Messari
The daily price chart shows the key support level. Source: TradingView
U.S. headline inflation over the years. Source: Bloomberg Bureau of Labor Statistics