Top cryptocurrency prices today: Bitcoin, Avalanche, Cardano, Solana tank up to 15%

economictimes.indiatimes.com:

Bitcoin dropped the most in almost a month as the optimism seen across financial markets following the Federal Reserve's meeting on Wednesday faded soon. The altcoins suffered more intense cuts. Barring the dollar-pegged USD Coin, all major crypto tokens were bleeding sharply. Avalanche plunged 15 per cent, followed by a drop of 12 per cent each in Solana and Cardano. Dogecoin, Shiba Inu and Ethereum plunged 7 per cent each.

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The global cryptocurrency market cap was trading sharply lower at the $1.67 trillion mark, falling about 8 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 14 per cent to $115.05 billion.What's cooking in IndiaIndia's parliamentary finance committee met with representatives of the crypto industry in Bengaluru on Wednesday, said three people familiar with the matter, reported CoinDesk. The industry was 'chided', the report said.Expert takeBitcoin dipped after a short relief rally on Thursday as investors felt the heat of higher interest rates. Bitcoin dropped nearly 10 per cent, breaking below its support levels, said Edul Patel, CEO & Co-Founder, Mudrex. «There are chances that it may break below the current level too. Bitcoin's selling volume rose a bit in the past 24 hours. Bitcoin's support now lies at $32,000. A similar downward trend may persist for a few days,» he added. There is a loss of confidence in the crypto market after a sharp rout in the technology sector. There are major doubts over global economic recovery and markets might not be ready to fight the inflation at full,