In less than 24 hours, the “relief rally” for cryptocurrencies following the Federal Reserve’s meeting has been erased.
Unable to crest its key $40,000 price point during Wednesday’s rally, bitcoin tumbled more than 9% between 9 and 4 p.m. New York time Thursday from $39,500 to $36,300 per coin.
Ether (ETH) sold off by 7% on the day from $2,939 to $2,741. The Nasdaq and S&P 500 are trading 5% and 3.5% lower.
The slide in risk assets follows what analysts and traders anticipated…
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