Why Bitcoin, Ethereum, and Dogecoin Dropped Today
Today, top cryptocurrencies Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) declined 4.1% and 4.7%, respectively, over the past 24 hours as of 3:15 p.m. ET. Popular meme token Dogecoin (CRYPTO: DOGE) kept pace with these top tokens, dropping 4.6% over the same time frame.
These three popular cryptocurrencies have basically paced the entire crypto market, which fell along most risk assets early this afternoon. The release of minutes from the previous Federal Reserve meeting has resulted in analysts and investors agreeing that the overly accommodative monetary policy we've seen thus far is likely to end sooner than expected. A sharp reduction in Federal Reserve bond holdings, and concerns around inflation, remain rampant.
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Source Fool.com
