Why is the crypto market down right now?

The crypto market is down right now, following a pointy pullback seen within the U.S. inventory market after United States Federal Reserve chair Jerome Powell issued regarding statements about rates of interest and excessive inflation.

(BTC) value at present trades at $22,300, a regarding degree for merchants who imagine a dip beneath the $22,000 degree would set off a development reversal right down to $19,000. Comparable worries additionally exist for Ether (ETH), which at present trades at $1,555 and has a key help degree at $1,450.

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