With the new week today, cryptocurrency prices have remained in the red.
Among tokens, Dogecoin’s price was trading about 7.80% lower at $0.05685, whereas Shiba Inu plunged more than 10% to $0.0000107. Multiple tokens have also declined, including XRP, Uniswap, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Stellar, Chainlink, Tron, among others.
The declines of the major crypto values are still subject to overall economic metrics—ranging from the disappointing Consumer Price Index, the benchmark S&P 500 falls, to the prospect of a global wave of monetary tightening this week.
Investors are bracing for volatility as the Federal Reserve this week is expected to announce interest-rate hikes to fight price pressures.
The recent rise and fall of the Bitcoin price in the last few days is in line with market participants’ expectations. Cryptocurrency markets are likely to be volatile until the macroeconomic situation settles down to a more predictable pace.
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