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Bitcoin tumbles below $23,000 upon FOMC meeting minutes: Price of Bitcoin has been hovering around $22,800 down 4.7% over the past week, after hitting $25,000 over the weekend for the first time since June. The release of last months FOMC meeting minutes on Wednesday has created a cause for concern for investors, as the report showed that the central bank will continue to maintain their monetary hawkishness till they suppress inflation. Bitcoin is now range bound with the support of 50 day MA at $22.2k

ETH prices down over the week: Ethereum on the other hand traded hands at $1,800, down 1.4% in the past 24 hours and 3% over the past week. ETH hit the $2,000 level for the first time in 2 months over the weekend, but the merge narrative has slowly been dropping off this week as macro conditions still remains uncertain and would take precedence over everything else in markets.

Altcoins fall amid price depreciation of majors: Altcoins fell strongly, dovetailing the recent drop in the price of Bitcoin. Largest gainers over the past week was marked by Chiliz, Leo and Gnosis increasing 34%, 11% and 7% respectively.

NFT volumes slump: Trading volume of NFT’s over the past week hit $128 million, down 16% week over week. The Sudoswap narrative continued to flourish this week, with investors flocking to the platform after positive launches of newer stealth collections. Creator royalties was briefly discussed among the NFT community, as Sudoswap unveiled the royalty-free sales as part of its AMM. Top bluechip gainers included Artblocks and Cyberkongz, up 16% and 11% over the past week.

US Equities nominally higher on Thursday: All three major indices ended nominally higher in a choppy session on Thursday. Analysts have mixed views thisweek following the FOMC meeting minutes on Wednesday and the worse than estimated home-sales figures yesterday.

Key Charts

Crypto Heatmap 7D
BTC Fear and Greed Index

NFT Floor price

Latest News

1. Crypto Lender Celsius’ Collapse Into Bankruptcy Should Be Probed, US Says (Coindesk)
2. Celer Network shuts down bridge over potential DNS hijacking (Cointelegraph)
3. Fed Instructs Banks To Report Crypto Activity (The Defiant)
4. Coinbase CEO: We’d Shut Down Ethereum Staking If Threatened by Regulators (Decrypt)
5. Gnosis Safe To Airdrop 50 Million Ethereum Tokens to Wallets (Decrypt)

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