Crypto and stocks soften ahead of Fed rate hike, but XRP, ALGO and LDO look ‘interesting’

Crypto and stocks soften ahead of Fed rate hike, but XRP, ALGO and LDO look ‘interesting’


Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. 

At the moment, the market consensus is a 0.75 bps rate hike and a sliver of analysts are banking on 1%.

Stocks also appear en-route to close the day in the red, with the Dow down 0.75%, and the S&P 500 and Nasdaq registering a 0.79% and 0.64% loss. Bitcoin continues to fight what appears to be a losing battle at the $19,000 mark, while Ether (ETH) dug a little deeper into its post-Merge dip by making an intra-day low at $1,329.

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While BTC, Ether and altcoins aren’t making any notable moves that defy the current downtrend, from the perspective of market structure

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