The crypto market fell 2.6% to $2.60 trillion on Thursday as concerns over a prolonged blockade at the Strait of Hormuz and the Federal Reserve’s hawkish stance on rate cuts weighed on investor sentiment.
Summary
- Crypto market cap drops 2.6% to $2.60T as Bitcoin falls to $75,102 and major altcoins decline amid risk-off sentiment.
- Escalating U.S.–Iran tensions and a prolonged Strait of Hormuz blockade push oil above $110, raising inflation and recession concerns.
- Federal Reserve holds rates at 3.5%–3.75% and signals no near-term cuts, reinforcing a “higher-for-longer” outlook that pressures crypto markets.
Bitcoin (BTC) price dropped 3.5% to an intraday low…
