Crypto markets are experiencing a downturn ahead of the Federal Reserve's FOMC meeting, with Bitcoin falling 2.29% to $92,166 and XRP dropping 4.95% to $2.06. The decline comes amid speculation surrounding BlackRock's $200 million Bitcoin transfer to Coinbase, which has fueled expectations about the firm's outlook on the Fed's upcoming decision. Historically, Bitcoin has seen declines following six of the last seven FOMC meetings, raising concerns among traders about a potential hawkish stance from the Fed. XRP's recent decline is further attributed to a significant 60% drop in RLUSD transaction volume over the past month, adding to the market's bearish sentiment. As the FOMC meeting approaches, investors remain cautious, closely monitoring potential impacts on the broader crypto market.
Crypto Markets Decline as Bitcoin and XRP Slide Ahead of FOMC Meeting
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