#MarketCorrectionBuyOrHODL Crypto price today: most altcoins fall ahead of Fed rate decision

Other cryptocurrencies also followed Bitcoin’s lead, as traders were cautious with the Fed meeting underway. Investors took some profit on altcoins as well, which were sitting on strong gains in recent sessions.

World no.2 crypto Ether slumped 4% to $3,842.77, extending its decline. World no.3 crypto XRP dropped over 5% lower to $2.51.

Solana inched 2.4% lower and Polygon slumped 6.1%, while Cardano lost 5.7%. Among meme tokens, Dogecoin dipped 5%.

The Fed is widely expected to cut interest rates by 25 basis points on Wednesday. But the focus is on the central bank’s long-term outlook on rates, especially in the face of sticky inflation, and a resilient economy.

The central bank may suggest a slower pace of rate cuts in 2025, implying that rates could stay higher for an extended period. This scenario could present challenges for cryptocurrency prices.