The Fed's hawkish policy troubles the cryptocurrency market, and XRP, Ethereum and Solana all decline 🔥🔥🔥

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Ethereum fell 13% and Solana fell 18%.

Holidays may increase market volatility. The Fed hinted that the pace of interest rate cuts in 2025 will slow down, and the cryptocurrency market has continued to be sluggish this week.

In the past 24 hours, the price of Bitcoin fell 7.3% to $94,662; Ethereum plummeted 13% to $3,213. Mainstream altcoins were hit hard, with Solana falling 14%, Cardano falling 18%, and XRP falling nearly 13%.

BlackRock caused controversy over its remarks on Bitcoin. On Wednesday, the Federal Reserve Chairman hinted at a slowdown in interest rate cuts, and the price of Bitcoin immediately fell. OKX's chief commercial officer said that the market reacted strongly to the Fed's expectation of a rate cut next year.

Despite the optimism brought by Trump's victory, the cryptocurrency market is still hovering at historical highs, with a total value of about $3.5 trillion.

Market analysts warned that the correction trend may continue and prices remain volatile. The approaching holiday has led to a decline in liquidity. Trump's support for cryptocurrencies has been reflected in prices.

Traders should remember that institutional adoption and policy reforms are gradual, not immediate.

Cryptocurrency market performance: Bitcoin fell 7.3% to $94,662; Ethereum fell 13% to $3,213.

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