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Data from analytics firm Coinmarketcap showed that the value of the global cryptocurrency market, including Bitcoin, fell 4.2% in 24 hours to $2.29 trillion.
Analysts say growing tensions in the Middle East following attacks in Beirut and Tehran have led investors to sell riskier assets such as cryptocurrencies.
Notably, the Federal Reserve’s (Fed) short-term move yesterday to keep its policy rate at a 23-year high of 5.25-5.50% will also influence the direction of the cryptocurrency market.
As of 18.15, Bitcoin, which has fallen by nearly 4.3% in the past 24 hours, fell to $63,540.
Ethereum, the second-largest cryptocurrency by market value, has lost 5.5% of its value in the past 24 hours, falling to $3,000-130.
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