The bitcoin price has dropped under $19,000 per bitcoin, exacerbating fears it could fall under its 2022 lows if a September so-called black swan scenario plays out. The ethereum price has also crashed back following the successful first step in its long-awaited and much-hyped merge upgrade, dragging down the price of top ten coins BNBBNB, XRPXRP, solana, cardano and dogecoin and plunging the combined crypto market under $1 trillion
Now, as the Federal Reserve's hawkish stance boosts the U.S. dollar ahead of what some expect to be a "great pause," traders are braced for the European Central Bank (ECB) to follow the Fed in hiking interest rates on Thursday as well as the latest U.S. inflation data next week.
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