Fed rate meeting coming, cryptocurrency trend may be affected

The cryptocurrency market has been relatively quiet over the past week, with bitcoin and ethereum both down less than 2%. Last week, the most interesting thing for investors was when Biden signed a regulatory executive order for digital currencies, while announcing that he would start studying the deployment of digital dollars.

This week, the Federal Reserve will hold a rate meeting, and the market expects the Fed to raise interest rates by 25 basis points, and cryptocurrencies may produce drastic fluctuations around the rate hike. Analysts at JPMorgan Chase had said in February that a Fed rate hike could trigger a cryptocurrency crash.

As of writing.

Bitcoin was down 2.51 percent in 24 hours at $38,203. Last week, bitcoin fell 1.67 percent.

Ether is down 1.97% at $2,540 in 24 hours. Last week, Ether was down 1.40 percent.

Cryptocurrency was down 3% at $365 for 24 hours. Last week, Cryptocurrency was down a cumulative 3.63%.

Dogcoin was down 3.52% at $0.117 in 24 hours. Last week, Dogcoin was down a cumulative 7.71%.

Shiba Inu coin was down 2.5% in 24 hours at $0.00002178. Last week, Shiba Inu coin was down 8.59% cumulatively.

The Sandbox is down 5.25% on a 24-hour basis, at $2.7. Last week, The Sandbox was down 4.54% cumulatively.