Bitcoin falls below $29,000, Ethereum surpasses $1,800, Shiba Inu drops 8%

Bitcoin continues to fall, falling 2% to trade below $29,000, while Ethereum was also down 2%, trading below $1,800.

Bitcoin and other leading crypto assets fell dramatically on Thursday after the US Fed meeting minutes frightened markets. The US Fed minutes of the July meeting lowered traders’ attitudes throughout the world, implying that the US central bank may need to raise interest rates further if necessary.

Bitcoin proceeded to fall further, falling as much as 2% to fall below the 29,000-mark for the second time. After the current downturn, Ethereum, its largest peer, was also trading 2% lower, falling below $1,800. The price action in the major altcoins was bearish.

Bitcoin is currently selling above $28,500. This could be due to the Russian Rouble and Argentina’s Peso losing value in relation to the US Dollar. Meanwhile, Ethereum has deviated from its previous pattern of trading between $1,800 and $1,900, and is now trading just below the $1,800 mark.

On Thursday, all of the top crypto tokens were trading downward. Shiba Inu fell by more than 8%, while Litecoin fell by more than 5%. Dogecoin was down 4%, while Toncoin, XRP, and BNB were all down 3%. In the early trading session, Solana was down 2%.

The worldwide cryptocurrency market cap was trading much lower, falling to $1.14 trillion after decreasing over 2% in the prior 24 hours. However, total trade volumes increased by more than 19% to $36.82 billion.