Cryptocurrencies
Cryptocurrencies Slump While US Regulatory Scrutiny Increases
- Recent high flyers Polygon, Ether lead retreat among altcoins
- Investor sentiment is on edge ahead of a looming Fed rate hike
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Bitcoin sank to a more than one-week low, buffeted by investor skittishness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector.
The largest token dropped as much as 6.5% on Tuesday and was trading at around $20,904 as of 2:53 a.m. in New York. The MVIS CryptoCompare Digital Assets 100 gauge shed more than 5%, while recent high flyers Polygon and Ether was down about 10%.